Inflation could peak around November at around 3.4-3.5%

“Inflation could peak around November at around 3.4-3.5%,” the European Central Bank’s Vice President Luis de Guindos said in a statement on Tuesday.

Further comments

“Q3 growth will be strong.”

“Have not seen indication that wages are on the rise.”

“Need to be vigilant to upside surprise on inflation.”

“Great majority of inflation rise is technical, temporary.”

Read: ECB’s Stournaras: Accepted there is an upside risk to inflation

Market reaction

EUR/USD is unfazed by the above remarks, as It keeps its range around 1.1730, up 0.05% so far.