Reuters reports that ECB Governing Council member Ignazio Visco said that it is important not to withdraw too early the policies put in place by governments and central banks to counter the impact of the COVID-19 pandemic.

Visco told the economy would not return to the situation pre-dating the virus crisis for another couple of years.

"Policies have to remain extremely accommodating on the fiscal side as well as on the monetary side as we're prepared to do for the euro area as a whole," Visco said.