The eurozone economy looks set for another downturn in the fourth quarter, while a recent pick-up in inflation is expected to persist in the coming months, the vice-president of the European Central Bank has warned.
In comments aimed at damping market expectations of an interest-rate cut in March, Luis de Guindos said in a speech in Madrid on Wednesday that the rapid pace of disinflation seen last year was likely to “slow down in 2024 and to pause temporarily at the beginning of the year”. Consumer price growth in the eurozone picked up from 2.4 per cent in November to 2.9 per cent in December.
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