SA Reacts To European New Variant Comments

European Central Bank Vice President Luis de Guindos said on Friday that the new Covid-19 variant is worrying.

“We have to be patient even if markets are volatile, my personal opinion that policy will remain accommodative”, de Guindos added.

On the PEPP, he said, it will end in its expected size at the end of March. The euro has not reacted to the latest remarks from de Guindos, though it has in recent trade managed to pop back in the green territory up to 1.1300 level.

On the other hand, South African Health Minister Mathume Phaahla said that the reaction of the UK and other countries in Europe to the Covid-19 variant found in South Africa was unjustified.

South Africa is acting with transparency, he insisted, and while preliminary studies do suggest variant may be more transmissible, the reaction of some countries by imposing travel bans are completely against norms and standards of the WHO according to Phaahla.