European Central Bank Vice President Luis de Guindos stated that the bank's 2% inflation goal would be achieved "relatively quickly" during the VI International Expansion Forum's conclusion in Madrid.

Nevertheless, he expressed concern regarding economic expansion, which in his assessment will remain "very modest, very limited."

The official further noted that "tariffs and trade disputes are now under development … we do not know what's going to be the final outcome," while emphasizing that "we must avoid a rise in interest rates."