Euro area could experience negative growth in 2023

European Central Bank (ECB) Vice President Luis de Guindos said on Friday that it was possible to see negative growth in the euro area in 2023, as reported by Reuters.

Regarding the inflation outlook, de Guindos noted that inflation could continue to rise in the coming months before starting to fall in the fourth quarter of the year.

Market reaction

EUR/USD pair edged lower after these comments and was last seen trading at 1.0515, where it was down 0.08% on a daily basis.

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