ECB’s de Guindos: Inflation remains very very high

European Central Bank (ECB) Vice President Luis de Guindos said on Wednesday, “inflation remains very very high.”

Key quotes

Recent data point to substantial slowdown.

Risks to inflation are on the upside.

Banks stand out in terms of resilience in financial sector.

Determined to bring inflation back to target.

Market reaction

EUR/USD was last seen trading at 0.9901, down 0.63% on the day.