ECB's de Guindos: We will start with QT sooner or later, but for sure in 2023

• We will continue to raise rates to a level that ensures inflation comes back into line with our definition of price stability
• Decision at the next meeting will be based on new projections in December and inflation estimate for November
• Inflation will hoever at around present levels for next few months, then decline in the first half of next year
• But on average, headline and core 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 will remain very high even if there will be downwards trend in 1H 2023

I'd take the quantitative tightening remark with a pinch of salt as it would highly depend on how economic conditions progress going into next year. The December decision is still a coin flip for now, in terms of how aggressive the ECB will be, but if the economy holds up, one can easily see policymakers side with another 75 bps move so long as they can squeeze that in.