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ECB’s de Guindos -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Luis de Guindos is vice-president at the European Central Bank. He speaks in New York during a Reuters Breakingviews Event on April 25, 2019. REUTERS/Brendan McDermid

FRANKFURT, (Reuters) – The Euro zone’s recent inflation spike may not be as temporary as previously thought. However, price growth will likely remain below the 2% target set by the European Central Bank in 2023-2024. This was stated on Thursday by Luis de Guindos, Vice President of ECB.

De Guindos stated that inflation isn’t going to be so transitory, as was forecasted only a few months ago at a UBS conference.

These are the simple reasons. “First, supply-side bottlenecks are going be there. They are more persistent that we and many others expected in the past,” de Guindos explained. “And energy prices will remain very high.”

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