First European Central Bank official to speak out after Trump's victory: closely monitoring, inflation may face significant impact.
European Central Bank Vice President Luis de Guindos stated that if President Trump implements the tariff plan proposed during his campaign, the global economy and inflation could suffer a devastating blow. The European Central Bank will closely monitor any policies announced by the new US government, and then decide how to respond accordingly.
Express News | European Central Bank Vice President: Eurozone economic growth may be weaker than previously expected.
Express News | European Central Bank Vice President Guindos: If Trump implements tariff plan, inflation could face huge impact.
ECB's Guindos Warns of 'Huge' Impact of Trump Tariff Plans
Eurozone's final PMI composite in October performed better than expected, pouring cold water on interest rate cut expectations.
Business activity in the Eurozone in October was better than expected.
In October, the final values of the Eurozone's composite and services PMIs were both revised upwards, both standing above the boom-bust line.
The euro area's final comprehensive PMI for October was 50.0, up 0.3 percentage points from the initial value, reaching a two-month high. The service sector PMI was 51.6, up 0.4 percentage points from the initial 51.2, marking a two-month high. Among the four major economies, the service PMIs of France and Spain declined, with only France's service PMI falling below the 50 mark.