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Speech by Luis de Guindos, Vice-President of the ECB, at the Distinguished Speakers Seminar organised by the European Economics and Financial Centre, University of London
London, 6 November 2024
I am delighted to be here today at the European Economics and Financial Centre seminar, hosted by the University of London.[1] My comments today will focus on the economic developments in the euro area and the Governing Council’s monetary policy decisions taken in October. I will discuss our assessment of the outlook for the euro area economy and the current disconnect between growing real incomes and weak consumption growth. I will also share some reflections on the distributional implications of the recent inflation surge and what these mean for monetary policy. I will conclude by explaining the rationale for our recent decision to take another step in moderating the degree of monetary policy restriction.