Speaking in Madrid today, Vice President of the European Central Bank de Guindos said:-
- Our forecasts indicate that inflation will range around 2% by the end of 2025.
- Inflation in the service sector is still resisting at the moment.
- Currently, our main concern is inflation in the service sector.
- We do not have a predetermined path for interest rates.
- We will decide what we will do on a meeting-by-meeting basis.
This is not something new and is just a confirmation of the policy path currently being taken by the ECB, the dollar is now in control of the moves, waiting for the Fed's decision next Wednesday, What are the future interest rate forecasts until the end of the year and what will Fed Governor Jerome Powell say.
