ECB Tightening Mostly Done But Has ‘a Way to Go,’ Guindos Says

The European Central Bank has completed most of its historic monetary-tightening campaign but there remains some ground to cover, according to Vice President Luis de Guindos.

Without revealing where he sees the peak in interest rates, Guindos said Wednesday that future ECB decisions will hinge on data in the coming months. That will include readings of underlying inflation, on which officials have increasingly focused, and which he said was more persistent than expected.