European Central Bank (ECB) Vice President Luis de Guindos said on Friday that “inflation is to be around 2% next year.”

de Guindos said that he “sees huge uncertainty in the economy.”

Separately, ECB policymaker Olli Rehn noted that “inflation will continue to decline and interest rate cuts will also support economic recovery.”

Market reaction

At the time of writing, EUR/USD is holding its grip tightly at around 1.0900, trading 0.06% higher so far.