ECB’s de Guindos: Our objective is to bring inflation back to 2% target

European Central Bank (ECB) Vice President Luis de Guindos said on Wednesday, “our objective is to bring inflation back to 2% target.”

Additional quotes

Rate hikes are both for borrowers and savers.

That is part of our monetary policy transmission.

If savings become more attractive, consumers will spend less, reducing demand.

This is what we aim for to push down inflation.

Market reaction

EUR/USD is unmoved by the above comments, still holding its range around 1.1000, as of writing.