The European Central Bank (ECB) will not complete QE adjustment before 2023said the member of the Governing Council Ignazio Visco in an interview Thursday.
Featured statements
“The ECB will maintain very favorable financing conditions for the economy.”
“We expect a 3% average inflation in 2022, which then gradually slows down to just under 2%. “
“Inflation forecasts below 2% in 2023-24 are exposed to downside and upside risks.”
“I don’t see any reason to re-evaluate the 2% inflation target.”
“Note that Italy’s GDP can grow 2 percentage points in the next two years with an efficient implementation of its recovery plan.”
“The sustainability of public budgets is key both in Europe and in each country.”
“An economy minister from the eurozone or the EU would be useful.”
“At the moment the final impact of Ómicron on the economy is unknown.
Market reaction
The EUR/USD it has lost 45 pips so far this Thursday amid resurgent demand for the US dollar. Following these dovish comments from the ECB, the pair has fallen to a daily low of 1.1315 and at time of writing is trading above 1.1317, losing 0.27% daily.
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