ECB’s Villeroy: Spike in inflation is temporary

Haresh Menghani FXStreet

European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau, in an interview with France 2 TV, reiterated that the recent spike in inflation is temporary. Villeroy further added that the ECB is keeping a careful watch for a possible further rise in inflationary pressure.

Market reaction

The comments did little to influence the shared currency or provide any impetus to the EUR/USD pair, which remains at the mercy of the US dollar price dynamics ahead of the crucial US CPI report.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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