ECB’s Smets says that weak inflation is still a lingering concern

ECB member Jans Smets comments in Macedonia

  • Multitude of uncertains remain in the Euro area
  • Euro area slack may be bigger than thought
  • ECB’s prudence, patience, persistence is fully justified

Some negative comments by Smets regarding the economy in the Eurozone. Certainly not going to help bolster the euro on the day as EUR/GBP continues to dictate the play for both the euro and the sterling.

EUR/USD back into narrow range at 1.2334, EUR/GBP at the lows now at 0.8632.

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