The Vice President of the European Central Bank discusses developments in inflation.

On Wednesday, the Vice President of the European Central Bank, Luis de Guindos, made several statements regarding the economic situation in the Eurozone and the course of monetary policy.

In this regard, de Guindos' key statements were as follows:

• All indicators related to core inflation support the correct trend (i.e., a decrease in core inflation).
• Inflation has decreased significantly.
• Recent economic data regarding price levels indicate movement towards the European Central Bank's inflation target of 2%.
• If inflation moves towards our target, the European Central Bank's monetary policy will respond accordingly.

During the October meeting, the European Central Bank decided to cut interest rates by 25 basis points, aligning with market expectations, bringing the main refinancing operations rate to 3.40%.