European Central Bank (ECB) Vice President Luis de Guindos said on Wednesday, “inflation remains very very high.”
Key quotes
Recent data point to substantial slowdown.
Risks to inflation are on the upside.
Banks stand out in terms of resilience in financial sector.
Determined to bring inflation back to target.
The economy is likely to stagnate around year-end.
Hikes to continue and data will determine the size.
The value of neutral rate is unclear.
Market reaction
EUR/USD was last seen trading at 0.9901, down 0.63% on the day.
