"The euro area economy may be directly impacted via trade channels and by possible spillover effects from higher interest and inflation rate expectations in the U.S.," it added, hinting at the election win for Donald Trump and increased market expectations regarding his investment expenditure.
"Market movements after the U.S. election indicate a rotation from bonds to equities. Bond valuations declined by 1 trillion euros ($1.06 trillion) worldwide in the first week after the election, with European markets also being affected, albeit to a smaller degree than U.S. markets. It is uncertain whether these developments will set a trend for the future."
However, it added that European banks are also a current risk to the bloc's financial stability. Profitability is set to remain low given the moribund economic recovery and the high-level of non-performing loans remains to be addressed, it added.
"Risks extend also to the real economy. In particular, concerns about debt sustainability might re-emerge despite relatively benign financial market conditions," the ECB also warned.
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