ECB Vice President Luis de Gwendos's remarks were as follows: -
- Expect a temporary recovery in inflation in the coming months
- The eurozone economy is likely to remain weak in the near term but will strengthen again in the medium term as inflation continues to fall, real income rebounds, and demand for eurozone exports grows
- There are signs that the labor market is beginning to weaken
- We would be in a better position to reassess inflation expectations and the action required at the December meeting and it's all about relying on data
- We will ensure that policy remains sufficiently restrictive as long as necessary
- The ECB is determined to ensure inflation returns to its 2% target in time
