Speakers
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ECB’s De Guindos (Spain) stated that was expecting a strong activity increase in H2. Inflation could be above 2% by end-2021 due to temporary factors. Saw moderation in inflation in 2022. Reiterated stance that best to err on the side of caution on when to begin removing stimulus.
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ECB s Elderson (Netherlands; SSM member) stated that banks need to play pivotal role in greening economy.
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Turkey Central Bank (CBRT) Gov Kavcioglu QIR press conference reiterated stance to maintain a tight monetary policy as it would act as a buffer. Increasing global inflation expectations is putting pressure on emerging market currencies.
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