• Lower growth, higher inflation will follow in the months ahead
• Inflation to start declining in Q4 this year
• Main concern is second round effects of inflation
• A wage price spiral will be very detrimental for the economy

Just some token remarks there by de Guindos but once again it just reaffirms the narrative that central banks are continuing to kick the can down the road when it comes to the timeline of getting inflation „under control“.

This article was written by Justin Low at www.forexlive.com.