The ECB Vice President Luis de Guindos, during a scheduled speech in Madrid, said this Monday that the incoming Euro-area data have continued to be weak and the economy has grown below expectations. Moderation in the pace of the Euro-area economic expansion will likely extend into the current year, de Guindos added further.
Additional quotes:
“¢ The effects of the idiosyncratic factors currently weighing on economic growth are expected to unwind, albeit at a slower pace than initially foreseen.
“¢ Supportive factors continue to be in place that will lift inflation above this year’s muted level in the more medium-term.
“¢ Expect labour costs to trickle through to wages, prices.
“¢ ECB’s new measures will add to the accommodative stance.
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