Guindos Says ECB Crisis Tool Can’t Obstruct Fight With Inflation

A new European Central Bank tool to keep a lid on financing costs in the euro zone shouldn’t interfere with efforts to tackle inflation that will remain elevated for some time yet, according to Vice President Luis de Guindos.

Consumer-price growth, already at a record, will remain above 8% in the coming months and only start to slow after the summer, Guindos told a virtual event Wednesday. The size of September’s planned increase in interest rates will hinge on how inflation expectations develop, he said.