ECB Says Historic Monetary Tightening Measures Have Been Basically Completed But Not Yet Over

European Central Bank (ECB) Vice President Luis de Guindos said that the bank has completed most of its historic monetary tightening campaign, but there is still some work to be done. Guindos said on Wednesday that future ECB decisions would depend on data coming out in the coming months, but he did not say where he thought rates would peak.

That would include data on underlying inflation, which officials have increasingly focused on, which he said was more persistent than expected.

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