ECB's de Guindos urges prudent on rates amid stagnating growth
The European Central Bank (ECB) outgoing Vice President Luis de Guindos said that the central bank needs to be prudent when deciding on an expected interest rate hike next month as growth was set to weaken, the Financial Times reported on Monday.
Key quotes
My impression is that the data on growth over the coming weeks are not going to be good.
That’s why I would call for prudence: the impact on growth is going to become much more visible over the coming weeks. And we need additional clarity with respect to the conflict.
Market reaction
At the time of writing, the EUR/USD pair is down 0.26% on the day at 1.1755.
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