He vice president of the European Central Bank (ECB), Luis de Guindossaid on Wednesday that economic activity in the euro zone is likely to remain subdued in the coming months, Reuters reported.
Featured Statements
“The labor market continues to resist.”
“A substantial part of the transmission of financing conditions to the real economy is expected to remain ongoing.”
“Underlying price pressures remain strong“.
“Labor costs increasingly contribute to domestic inflation.”
“We will continue to apply a data-dependent approach“.
“The downward impact of our tightening so far on GDP and inflation is estimated to average around 2 percentage points over the period 2023-25.”
Market reaction
The EUR/USD pair did not react to these comments and is up 0.4% on the day to 1.0507.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
