FRANKFURT (Reuters) - Financial markets are pricing in higher economic growth since Donald Trump's U.S. election win last week, but Europe and emerging countries could actually suffer from protectionism in the United States, the European Central Bank's vice president said on Monday.
"We should be cautious in drawing hasty, positive conclusions from those market developments because they may not necessarily indicate that the world economy will have an accelerating recovery with higher growth," Vitor Constancio said at an event in Frankfurt.
"So far, those developments point to a U.S. rise in economic growth, but in the context of an 'America first' policy."