ECB’s Centeno sees inflation under 3% by the year-end

In a speech over the weekend, European Central Bank (ECB) Governing Council member and Bank of Portugal Governor, Mario Centeno, said that he expects Eurozone “inflation under 3% by the end of 2023.”

Additional quotes

"Inflation is coming down faster than the way up."

"We need to fuel this process and be very confident we can make it."

The Eurozone labor market is the "strongest" it's ever been.

Market reaction

EUR/USD was last seen trading at 1.0968, modestly flat on the day. The spot clings to Friday’s gains, at weekly highs.