“The ongoing rise in euro area Inflation is transitory,” the European Central Bank (ECB) Governing Council member and Spanish central bank chief Pablo Hernandez de Cos said in a scheduled speech on Thursday.
Nothing further is reported from him.
Last month, de Cos argued that "we should accommodate rises in market-based long-term inflation expectations to ensure they translate into lower long-term real interest rates.”
Market reaction
EUR/USD is currently trading flat at 1.2190, having slipped from daily highs of 1.2215 after the US dollar staged an impressive bounce.
