MNI BRIEF: ECB To Maintain Meet-by-Meet Approach- De Guindos
MNI (LONDON) - The eurozone's disinflationary process is well on track, with the outlook influenced by recent downside surprises in indicators of economic activity and still-restrictive financing conditions, ECB vice-president Luis de Guindos said Wednesday.
Fine-tuning of monetary policy decisions in reaction to inflation developments "is complex but the medium-term orientation of inflation is clear," he added. (see MNI SOURCES: ECB Officials See Rate Expectations As Stretched).
Speaking at an event in London organised by the European Economics and Financial Centre, de Guindos said that the ECB's interest rate decisions will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction, without pre-committing to a particular rate path.