ECB’s Simkus: Inflation will fall below target in 2023, not in line with forward guidance conditions

Market news

12 November 2021

ECB’s Simkus: Inflation will fall below target in 2023, not in line with forward guidance conditions

The European Central Bank’s (ECB) Governing Council member Gediminas Simkus said on Friday, inflation will fall below target in 2023, adding that it is not in line with the forward guidance conditions.

Earlier on, ECB policymaker Olli Rehn said that the relief on supply bottleneck may not arrive until toward the end of 2022

Meanwhile, Eurozone money markets now price in two full, 10 bps ECB rate hikes by December 2022, per ECBWatch.

Market reaction

EUR/USD was last seen trading at 1.1444, modestly flat on the day. The spot looks vulnerable while trading near yearly lows.

Currencies. Daily history for Friday, November 12, 2021

Commodities. Daily history for Thursday, November 11, 2021

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