ECB's de Guindos: Perhaps inflation won't be as transitory as forecast

Eren Sengezer FXStreet

European Central Bank (ECB) Vice President Luis de Guindos said on Thursday that the European economy is getting used to the coronavirus, as reported by Reuters.

"Perhaps inflation won't be as transitory as forecast only some months ago," de Guindos noted but also added that he expects inflation to stay below the ECB's target in 2023 and 2024.

Market reaction

These comments don't seem to be having a noticeable impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was up 0.17% on the day at 1.1460.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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