BERLIN (Reuters) – The European Central Bank is prepared for a possible technical recession paired with high inflation, which must be brought down to maintain market confidence, European Central Bank Vice-President Luis de Guindos said.
“We will do whatever is necessary to bring inflation back to our 2% target over the medium term,” De Guindos said in an interview with Lithuanian weekly Verslo žinios, published on the central bank’s website on Friday.
(Writing by Rachel More; Editing by Paul Carrel)