Omicron variant likely to induce higher volatility in global growth.
Supply bottlenecks, rising commodity prices, omicron spread continue to weigh on near-term global growth prospects.
Euro area growth is moderating but expected to pick up again strongly in the course of this year.
Risks to economic outlook are broadly balanced.
EUR/USD is maintaining its pullback from two-month highs of 1.1479 on these ECB headlines, currently trading at 1.1465. The spot is higher by 0.21% so far.
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