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Vujcic Acknowledges Inflation Is Looking Quite Persistent

ECB
  • Bloomberg cite ECB's Vujcic as stating that inflation is looking quite persistent, and that it will take time to bring inflation down.
  • No response in the EUR here, EUR/USD still holding above the 1.06 handle following the French CPI beat earlier today. 1.0625 remains the high for now.
  • Vujcic spoke yesterday on ECB policy - stating that "as long as core inflation persists, the ECB must persevere".
  • Today's comments inline with that rhetoric - stating that "it will take time to bring inflation down".
  • Possible that Vujcic's language on inflation has strengthened perhaps a little after yesterday saying "headline inflation is set to fall".
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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