The global economic outlook remains uncertain in the wake of the Brexit vote but European financial markets look set to weather the storm, according to the European Central Bank’s latest economic bulletin.

The ECB confirmed that markets had steadied since the vote, but warned that “incoming data for the second quarter point to subdued global activity and trade.”

According to the bulletin, the ECB expects recovery in the Euro area to continue at a”moderate pace”, despite inflation remaining at zero with no sign of an upward trend.

President of the ECB Mario Draghi stated in July that the ECB would wait for further information before making more policy decisions, taking into account new staff projections released in September as well as rate decisions by other central banks.

04/08/2016