ECB’s de Cos: Waiting for More Information in the Coming Weeks and Months

14 February 2024

By David Barwick – SPLIT, Croatia (Econostream) – European Central Bank Governing Council member Pablo Hernández de Cos on Wednesday said that the ECB was awaiting further data before cutting interest rates.

Speaking at the annual conference of Mediterranean central banks, de Cos, who heads the Banco de España, noted that ‘[t]he global economy has been resilient in this very complex situation.’

‘It’s also the case that inflation has fallen rapidly in many countries, and this has allowed … many central banks, particularly in developing countries, to start loosening cycles … and this has allowed us to pause, and now we are waiting for more information in the coming weeks and months … before also starting to loosen our policies’, he said.

De Cos observed that ‘the challenges for our economies are very, very significant’.