ECB's de Guindos: Still on course for ECB policy normalization

Headlines continue to pour in from a keynote speech by ECB Vice President Luis de Guindos, this time saying that external demand is the main factor behind recent economic slowdown and downside risks have become more prominent.

Key quotes: 

   •  We are back to normal after unusually high growth in 2017.
   •  Consumption remains quite positive.
   •  Spillover from Italy has been quite contained.
   •  The main problem of Italy is the low growth rate. 
   •  Still on course for ECB policy normalization.