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De Guindos Retains Premature Rate Cut Talk

ECB
ECB release interview with de Guindos, link here.
  • "Once we see inflation is clearly converging in a stable manner to our target of 2%, monetary policy might then start to ease. But it’s still too early for that to happen."
  • de Guindos questioned on rate cuts: "Q: When can we expect to see the first interest rate cuts?
  • "If sustained for a sufficiently long period of time, current interest rates will help bring inflation down to 2%. We are data dependent. The data have been favourable but still not enough for us to change our monetary policy. It’s therefore too early to talk about a cut in interest rates."
  • His comments on rate cuts emblematic of his long-standing stance on rate cuts - has been saying as far back as early October that talk of rate cuts is "premature". No change here for the ECB VP.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

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