ECB’s de Guindos: Central bank needs to avoid “M-shaped evolution of inflation”
European Central Bank (ECB) Vice-President Luis de Guindos provides his outlook on growth and inflation during his latest appearance on Monday.
Key quotes
Inflation is starting to decelerate but still sees inflation hovering around 7% by mid-2023.
The ECB needs to avoid "M-shaped evolution of inflation" whereby there is a re-acceleration after slowing down.
The economic deceleration is not as deep as expected.
Market reaction
Amidst slightly hawkish comments from the ECB policymakers, EUR/USD is advancing 0.12% on the day to 1.0550, at the press time.
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