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ECB’s de Guindos -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Luis de Guindos (Vice-President) of the European Central Bank, gives a speech during day two of the Informal Meeting EU Ministers for Economics & Financial Affairs in Berlin Germany on September 12, 2020. Odd Andersen/Pool

FRANKFURT – Russia’s conflict in Ukraine will impact euro zone growth, however, the block remains set to grow, according to Luis de Guindos (Vice President of European Central Bank), Tuesday.

“So far we can dismiss the possibility for stagflation,” he said to a conference. He was referring specifically to the phenomenon of stagnating growth and high inflation.

He said that although high energy prices have driven inflation to record levels, it is not clear that inflation expectations will be moving higher or being “deanchored”.

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