As stated by Luis de Guindos, Vice President of the European Central Bank, the situation in the Middle East may accelerate inflation. The European central bank (EKP) is currently facing significant challenges in trying to reach its inflation target, according to a report by Bloomberg. De Guindos mentioned that while they expect inflation to return to the two percent target next year, the outlook is filled with considerable risks, especially due to the geopolitical situation in the Middle East.
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