de Guindos says they could so so in the next few days
- Third quarter indicators are positive
That's some confidence given the threat posed by supply disruptions, rising cost pressures, and the delta variant. The latter may not be too concerning for Europe given the high vaccination rates but it does compound the problems on the first two issues.
The euro area economy has shown much resilience as the latest PMI readings underscore that much of the summer optimism has been retained going into the latter stages of Q3.
In any case, stronger projections aren't going to mean much for the central bank when they continue to commit to the narrative that inflation remains 'transitory'.
