ECB's Vujcic: Optimistic about achieving a soft landing in the eurozone without recession

The European Central Bank (ECB) Governing Council member and Croatian National Bank Governor, Boris Vujčić spoke in an interview on Friday about achieving a soft landing in the eurozone without recession or significant unemployment.

Key quotes

“If our current projections materialize, then we will have a soft landing with a low sacrifice ratio, meaning without a recession and without a significant increase in unemployment.”

“We cannot be certain that it will stay that way until we reach our goal, but in my view, the soft landing is still a central scenario.”

“However, we have to stand ready either for a possibility of rate increases or rate cuts, depending on incoming data in 2024.”

Market reaction

The comments above have little to no impact on the Euro. The EUR/USD pair is trading higher on the day at 1.0665, as of writing.