ECB’s Visco: Price-rise mostly driven by energy, gas prices

European Central Bank (ECB) Governing Council member Ignazio Visco said on Thursday, the rise in inflation is mostly driven by energy–gas prices.

Key quotes

Inflation not driven by increase in demand.

We're acting to stop inflation genie to get out of bottle.

Market reaction

EUR/USD is back under 1.0400, as the US dollar springs back to life in the European session. The pair is down 0.45% on the day.