ECB’s De Guindos: Moderation in the pace of economic expansion likely to extend this year

The ECB Vice President Luis de Guindos, during a scheduled speech in Madrid, said this Monday that the incoming Euro-area data have continued to be weak and the economy has grown below expectations. Moderation in the pace of the Euro-area economic expansion will likely extend into the current year, de Guindos added further.

Additional quotes:

   •  The effects of the idiosyncratic factors currently weighing on economic growth are expected to unwind, albeit at a slower pace than initially foreseen.
   •  Supportive factors continue to be in place that will lift inflation above this year's muted level in the more medium-term.
   •  Expect labour costs to trickle through to wages, prices. 
   •  ECB's new measures will add to the accommodative stance.