ECB’s Pereira: No second-round inflation effects at present
European Central Bank (ECB) official and Governor of the Bank of Portugal Santos Pereira said during the European trading session has ruled out fears of second-round inflation effects. Pereira advised that France should pursue fiscal prudence. Lately, French bonds witnessed massive sell-off amid heightened fiscal concerns.
Comments
Current inflation and core inflation levels are far below those seen during 2022 energy shock.
There are no second-round inflation effects at present.
Other goods prices show no signs of de-anchoring inflation expectations.
France must cut its deficit and debt, pursue reforms and fiscal prudence.
Market reaction
No responsive action is seen in the Euro (EUR), following remarks from ECB’s Pereira. As of writing, EUR/USD is down 0.62% to near 1.1190.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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