ECB's de Guindos: Eurozone inflation in February has been a negative surprise

European Central Bank (ECB) Vice President Luis de Guindos said on Wednesday that it was too early to assess the full implications of Ukraine's invasion by Russia, as reported by Reuters.

Additional takeaways

"Eurozone inflation in February has been a negative surprise."

"Markets have, however, not experienced extreme liquidity tensions."

"Global financial exposure to Russia is somewhat limited."

"Most significant risks are energy shocks."

"Invasion of Ukraine by Russia will have an impact on the economy in the eurozone, will also have an impact on inflation."

Market reaction

EUR/USD is having a difficult time staging a rebound following these comments and was last seen losing 0.3% on the day at 1.1094.