European Central Bank (ECB) Vice President Luis de Guindos said on Friday that the risks to the European economic outlook are tilted to the downside.

De Guindos added that inflation could tick up again in the next few months but noted that the current interest rate for long enough could tame inflation.

Market reaction

These comments don't seem to be having a significant impact on the Euro's performance against its major rivals. As of writing, EUR/USD was virtually unchanged on the day at 1.0908.