ECB Vice President Luis de Guindos shared a mixed outlook today, highlighting progress in inflation but tempered growth prospects.
“There’s good news with inflation and not so good news on economic growth,” he remarked, noting ECB’s expectation that services inflation will ease over the coming months.
De Guindos added that inflation is expected to “converge in a clear and stable manner towards price stability, 2%,” a target that reinforces the bank’s commitment to maintaining price control.
On the economic front, de Guindos admitted “recovery we were anticipating is not happening with the intensity we expected”. Although household incomes have seen some improvement, it has yet to translate into stronger consumer spending.
