ECB’s Centeno: We are almost out of woods in this inflationary cycle

ECBs Centeno is on the wires saying:

• We are almost out of the woods in this inflationary cycle.
• ECB rate cuts are to continue until inflation converges to target.

HMMM

From the ECB yesterday,

Staff now see headline inflation averaging 2.3% in 2025, 1.9% in 2026 and 2.0% in 2027. The upward revision in headline inflation for 2025 reflects stronger energy price dynamics. For inflation excluding energy and food, staff project an average of 2.2% in 2025, 2.0% in 2026 and 1.9% in 2027.

If 2.0% is the CPI target, the CPI has not converged to the target yet.

This article was written by Greg Michalowski at www.forexlive.com.