European Central Bank Vice President Luis de Guindos said on Thursday that price increases across the Eurozone will most likely remain high over the coming months, reported Reuters. Medium-term inflation expectations remain anchored and close to our 2.0% target, de Guindos added. The ECB needs to move gradually and cautiously as it normalises monetary policy, he noted. 

ECB meeting accounts of the bank's last policy meeting said that members widely expressed concerns over high inflation numbers. Some members viewed it as important to act without undue delay in order to demonstrate the bank's determination to achieve price stability.