ECB's Stournaras: Advising caution on course of inflation relative to medium-term target

In an interview with Bloomberg on Wednesday, "wage developments and unit labour costs which determine the core of inflation do not show the same volatility as headline inflation," European Central Bank (ECB) policymaker Yannis Stournaras said, per Reuters.

Stournaras further noted that he would advise caution regarding the course of inflation relative to the ECB's medium-term target.

Market reaction

These comments don't seem to be having a noticeable impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1822, where it was up 0.13% on a daily basis.