De Guindos stresses the importance of the ECB’s monitoring of inflation data

Deputy Governor of the European Central Bank, De Guindos

Deputy Governor of the Bank confirmed European Central Luis de Guindos, today, Tuesday, stressed the need for the European Central to follow up on core inflation, as he warned of the deterioration that the eurozone economy will witness.

In this context, the policy maker of the European Central Bank expected that the euro area will enter into a technical recession, starting from the last quarter of 2022 and the first quarter of 2023, on the sidelines of high inflation rates, indicating that the European Central Bank should reduce inflation.

For example, De Gindos said in a previous interview in Milan that inflation rates in the eurozone have reached their peak, expecting that inflation will decrease in the first half of next year.

It is noteworthy that the euro zone recorded an increase in inflation rates, reaching 10.6% for the month of October, compared to 9.9% for the month of September, in light of the European Central Bank raising the interest rate by 75 basis points in its previous meeting, bringing the current interest rate to 2.00%.