{"id":1136923,"date":"2021-12-21T09:04:53","date_gmt":"2021-12-21T14:04:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1136923"},"modified":"2021-12-21T09:04:55","modified_gmt":"2021-12-21T14:04:55","slug":"ecb-deputy-euro-inflation-not-as-temporary-as-we-expected","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ecb-deputy-euro-inflation-not-as-temporary-as-we-expected\/","title":{"rendered":"ECB Deputy: Euro Inflation \u2018Not as Temporary As We Expected\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fecb-deputy-euro-inflation-not-as-temporary-as-we-expected%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1136923&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/GettyImages-1201456209-e1640085142299-640x335-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">The vice-president of the European Central Bank has said that the inflation currently facing the Euro is not \u2018as temporary\u2019 as officials initially expected.<\/p>\n<p>European Central Bank (ECB) Vice-President&nbsp;Luis de Guindos has admitted that inflation currently facing the euro will be longer lasting than what the bank initially expected.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>The admission comes as the Eurozone faces the <a href=\"https:\/\/www.breitbart.com\/europe\/2021\/12\/02\/eurozone-inflation-hits-highest-level-since-introduction-of-the-euro\/\">highest level<\/a> of inflation since the currency was introduced, hitting nearly 5% across the bloc in November.<\/p>\n<p>While senior members within the ECB had been previously playing down the level and longevity of the Euro\u2019s inflation, according to a <a href=\"https:\/\/www.spiegel.de\/wirtschaft\/inflation-laut-ezb-vizechef-nicht-so-voruebergehend-wie-erwartet-a-38b2876d-24c1-4b11-9d2a-b7d4fcf9e2ac\">report<\/a> by <em>Der Spiegel<\/em>, Vice-President de Guindos finally struck a different tone on Monday.<\/p>\n<p>\u201cOur inflation is more persistent and not as temporary as we expected,\u201d the vice-president said during an <a href=\"https:\/\/www.cope.es\/programas\/la-linterna\/noticias\/luis-guindos-cope-los-paises-con-mas-deuda-publica-tendran-que-realizar-programa-ajuste-20211220_1689129\">interview<\/a> with Spanish radio station COPE. \u201cIt has to do with delay factors in the logistics sector, bottlenecks in the supply of intermediate goods.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>De Guindos also warned of potential economic fallout after the pandemic for nations in precarious fiscal positions.<\/p>\n<p>\u201cI believe that we must bear in mind that sooner or later, the pandemic will be overcome and the countries in a more vulnerable situation in fiscal policy, with more deficits and public debt, will have to carry out an adjustment program,\u201d he said. \u201cIt will have to be done sooner or later.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"5.6363636363636\">\n<p lang=\"en\" dir=\"ltr\">Eurozone Inflation is Now at The Highest Level Ever <a href=\"https:\/\/t.co\/JQtwe0z4JO\">https:\/\/t.co\/JQtwe0z4JO<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1466395223848722438?ref_src=twsrc%5Etfw\">December 2, 2021<\/a><\/p>\n<\/blockquote>\n<p>The vice-president\u2019s comments mark a U-turn in the ECB\u2019s public attitude towards the issue of inflation.<\/p>\n<p>At the start of the month, ECB President Christine Lagarde dismissed the issue as transitory, according to a <a href=\"https:\/\/www.ft.com\/content\/dfd205bd-bb19-46f2-9a75-47af00a843b5\">report<\/a> by the <em>Financial Times<\/em>.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>\u201cI see an inflation profile that looks like a hump\u2009.\u2009.\u2009.\u2009and a hump eventually declines,\u201d she said, emphasising that it was very unlikely that the ECB would raise interest rates next year as an attempt to curb the phenomenon.<\/p>\n<p>The sudden shift away from playing down inflation mirrors a similar U-turn made by the Federal Reserve in the United States.<\/p>\n<p>While the Eurozone is currently dealing with record levels of inflation for the bloc, the U.S. is currently facing even higher levels, <a href=\"https:\/\/www.theguardian.com\/business\/2021\/dec\/10\/us-inflation-rate-rise-2021-highest-increase-since-1982\">hitting<\/a> an annual rate of 6.8 per cent in November.<\/p>\n<p>This has had a <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/11\/10\/bidenflation-hits-drivers-prices-soar-on-used-cars-new-cars-new-trucks-auto-parts-gas-motor-oil-repairs\/?utm_medium=social&amp;utm_source=facebook\">knock-on effect<\/a> on American consumers, with the likes of gasoline prices rising over 50 per cent since the start of the year.<\/p>\n<p>Despite previously playing down the effect of inflation in the country, the Federal Reserve <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/11\/30\/fed-chair-jerome-powell-pivots-to-inflation-fighting\/\">announced<\/a> late last month that it would wind-down some of its easy-money policies in an attempt to curb the phenomenon.<\/p>\n<p>\u201cThe economy is very strong and inflationary pressures are high,\u201d Federal Reserve Chairman Jerome Powell said. \u201cIt is therefore appropriate, in my view, to consider wrapping up the taper of our asset purchases \u2026 perhaps a few months sooner.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The vice-president of the European Central Bank has said that the inflation currently facing the Euro is not \u2018as temporary\u2019 as officials initially expected. European Central Bank (ECB) Vice-President\u00a0Luis de &#8230;<\/p>\n","protected":false},"author":297,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1136923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1136923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/297"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1136923"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1136923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1136923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1136923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1136923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}