MNI BRIEF: ECB On Hold, But Risks Remain -De Guindos

European Central Bank interest rates will continue to be made on a meeting-by-meeting basis, defined by data available to the Governing Council, Vice President Luis de Guindos told Slovakia's Finance magazine in an interview published Thursday.

"We will continue taking a meeting-by-meeting and data-dependent approach to interest rate decisions," De Guindos said, although he added that holding interest rates at their current level would be likely to "substantially contribute to bringing inflation back down to the 2% level".

Despite the decline of headline inflation over the last year, and the start of a downward correction in core prices, De Guindos accepted there were still upside risks. "We have to be prudent and cautious, as there are some risks around the outlook for inflation over the next few months," he said.

His remarks came after central bankers from France, Ireland and Belgium made comments indicating differing opinions about whether rates were likely to rise further. (See also MNI INTERVIEW: ECB Should Hold Until At Least Spring-Vujcic)