💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Mid-term inflation projections key to ECB action - Constancio

Published 12/05/2014, 10:54
Updated 12/05/2014, 11:16

VIENNA (Reuters) - The medium-term inflation outlook will be the key factor when the European Central Bank decides next month whether it will need to take fresh policy action amid persistently weak inflation, ECB Vice President Vitor Constancio said on Monday.

"We need to know better after the low inflation monthly figures that we have had recently what will be the prospects for the medium-term path of inflation. That will be the main criteria for any decision by the governing council," he told reporters on the sidelines of a banking union conference.

He noted the ECB was considering a wide range of potential action but declined to speculate on just what the central bank may decide at its June meeting.

He said the ECB was keeping a close eye on the strength of the euro. "It's something of course we cannot ignore and don't ignore but (the exchange rate) is not and cannot be a target for our policy," he said.

(Reporting by Michael Shields and Georgina Prodhan)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.