ECB's Cippolone: Seeing some signs of economic recovery
Source Fxstreet
European Central Bank (ECB) Executive Board member Piero Cipollone said on Wednesday that they are seeing some signs of economic recovery in the Euro area, citing the latest PMI data.
Cipollone said that they expect inflation to resume on its path toward 2% next year and reach the target in 2025.
"If the incoming data in June and July confirm that confidence about the target improves, it will be appropriate to remove some restrictive measures imposed in 2023," he added, per Reuters, but noted that the impact of the Middle East conflict on energy costs is a major risk.
Market reaction
These comments don't seem to be having a significant impact on the Euro's performance against its rivals. At the time of press, EUR/USD was up 0.22% on the day at 1.0640.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.
OpenAI went into early talks to discuss the secondary sale of shares to former and current employees, raising its valuation to $500B.
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Silver price (XAG/USD) holds onto gains near Thursday’s high around $49.00 during the Asian trading session on Friday.
