ECB Deputy Governor Guindos: The Euro Area Is Now Facing A Challenging Outlook

ECB Deputy Governor Guindos: The Euro Area Is Now Facing A Challenging Outlook

Speech by Luis de Guindos, Vice-President of the ECB, at the CIRSF (Research Centre on Regulation and Supervision of the Financial Sector) Annual International Conference 2022 “The future of the EU financial system in a new geo-economic context”

Some highlights:

• Very High Inflation Is Dampening Spending And Production
• Period Of Heightened Uncertainty 'Here To Stay'
• Price Pressures Have Continued To Strengthen And Broaden
• Monetary Policy Needs To Walk A Fine Line To Get It Right
• Depreciation Of The Euro Also Adds To These Inflationary Pressures
• Growth To Slow 'Substantially'

All very sober, as one would expect given the current environment... How long until the ECB start cutting into the hikes??