ECB's Makhlouf: There is a potential for a negative growth shock on coronavirus

Comments by ECB governing council member, Gabriel Makhlouf

• Coronavirus impact adds to already existing uncertainties and risks
• It is premature to reach any conclusions
• But there is potential for a negative shock to global growth in the short-term
• Beyond that, we must wait and see but recognise that uncertainty has increased

This is a pretty fair take on the potential implications of the coronavirus outbreak for the market to consider. While investors are largely brushing aside fears, it must be said that that it is still a bit too early to discount the risks altogether.

I mean the market could be right and that this whole thing blows over soon enough, but it has left some deep wounds in global businesses and many economies to start the year.