De Guindos of the ECB: Will continue to raise rates in an effort to reduce inflation toward mid-term objectives

VOT Research Desk

Luis de Guindos, vice president of the European Central Bank (ECB), stated on Wednesday that the ECB will maintain raising interest rates to attempt to bring inflation down towards our mid-term goals.

Inflation in the Eurozone won’t decrease on its own when the economy slows. Prudent fiscal policies must be implemented by Eurozone governments.

In anticipation of the Eurozone PMIs, the EUR/USD currency pair is now trading 0.18% higher than it was yesterday at 1.0318.