European Central Bank: Interest Rate Decisions Will Be Made Based on Data
A member of the European Central Bank's Governing Council confirmed that the bank will monitor how the Iran war affects the eurozone economy and will make decisions based on data it receives. Governing Council member Alvaro Santos Pereira told Portuguese newspaper Observador in an interview published at the end of last week: 'There is a very high degree of uncertainty and significant volatility as developments related to the conflict in the Middle East sometimes change almost daily.' He added: 'The most important thing now is to look at the data and understand what is happening.' The statements come on the first day of a customary quiet period...
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A member of the European Central Bank's Governing Council confirmed that the bank will monitor how the Iran war affects the eurozone economy and will make decisions based on data it receives.
Governing Council member Alvaro Santos Pereira told Portuguese newspaper Observador in an interview published at the end of last week: 'There is a very high degree of uncertainty and significant volatility as developments related to the conflict in the Middle East sometimes change almost daily.'
He added: 'The most important thing now is to look at the data and understand what is happening.'
The statements come on the first day of a customary quiet period at the European Central Bank before meetings of the monetary policy committee.
It is widely expected that officials will keep interest rates unchanged next week after last month's hike, giving them time to assess the impact of renewed fighting between the United States and Iran.
Original source: Okaz
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