Commenting on the inflation outlook, the European Central Bank (ECB) executive board member Isabel Schnabel said on Monday, “we think that inflation peak has been reached in November.”
Additional comments
Expect inflation to decline gradually in the coming year.
There are no signs that inflation is getting out of control.
Inflation won't continue at the same pace as in the past few months.
Inflation will trend back towards 2% next year.
It would be premature to tighten monetary policy now.
EUR Reaction
The notable US dollar comeback is weighing heavily on the EUR/USD pair, as it now trades at 1.1260, down 0.50% on the day.