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European Central Bank (ECB) policymaker Mario Centeno noted on Monday that all analyses indicate that the rising inflation in the euro area is temporary, as reported by Reuters.

“There is no evidence that the Pandemic Emergency Asset Purchase Programme (PEPP) will end before March 2022,” Centeno added.

Later in the session, ECB President Christine Lagarde is scheduled to deliver a speech at 1230 GMT.

Market reaction

These comments don’t seem to be having a noticeable impact on the shared currency’s performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1898, where it was up 0.31% on a daily basis.