ECB's de Guindos: It is very difficult to determine the level of the terminal rate

• We are dependent on the data we receive
• There is a very high level of uncertainty
• Our response will depend on how the data evolves in the coming months
• Monetary policy has to adjust to these new structural features that may push inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term upwards
• As a general recommendation, fiscal policy has to be compatible with the process of monetary policy normalisation
• We will do whatever is necessary to bring inflation back to our 2% target over the medium term
• Full interview

There isn't anything in the remarks that we don't already know from the ECB. There's no chance of them fixing a terminal rate when they can't even provide clues on what they are going to do three months down the road. But at least for this month, a 75 bps rate hike looks to be the path especially after double-digits inflation in the region.