ECB's Centeno: Downside risks for growth outlined in June projections are materializing

"Eurozone economic growth indicators have been surprising on the downside recently," European Central Bank (ECB) Governing Council member and Bank of Portugal Governor Mario Centeno said while speaking at Reuters Global Markets Forum on Wednesday.

Centeno further noted that downside risks for growth outlined in June projections macroeconomic projections have started to materialize and added that they have not yet seen a deanchoring of inflation expectations.

Market reaction

EUR/USD showed no immediate reaction to these comments and was last seen trading modestly higher on the day at 1.0880.