ICYMI - ECB's Herodotou says the Bank's rate hikes are beginning to impact on the economy

European Central Bank Vice President Luis de Guindos spoke overnight as part of a panel discussion in Delphi, Greece.

• ECB's De Guindos: Wages are going to accelerate

At the same event Cypriot central-bank chief Constantinos Herodotou also spoke. In brief:

• "We are beginning now to see the first signs of the impact in the real economy and ... it's already seen in the headline inflation, even though core inflation is sticky, so we still have to work on that,"
• recent financial-market tensions “may have an additional impact on financing conditions, in addition to our monetary policy, so we need to gauge that and see how it could potentially complement or at least how it contributes to the monetary-policy stance”
• and added that other factors, including rising wages and trade frictions as a result of geopolitics, may contribute to price pressures, so the challenges faced by the ECB “may act in opposite ways.”