De Guindos: As Prices Approach Target, ECB Will Further Lower Interest Rates

Forex - European Central Bank Vice President Luis de Guindos stated that the latest eurozone data indicates that inflation is on track to reach the bank's 2% target, suggesting that the ECB is likely to lower interest rates further. De Guindos mentioned that if inflation effectively approaches the target and the ECB's projections are met, "the direction and evolution of monetary policy will clearly be in line with this, beyond what occurs in December or January." He noted that while the recent news regarding inflation in the eurozone is "good," the economic data is "not so good," adding, "Inflation has decreased significantly, all indicators related to core inflation are moving in the right direction, but there is currently an element of uncertainty regarding services."