ECB’s Rehn: Not Pre-Committing to Any Rate Path
11 June 2024
By Aurėja Bobelytė – VILNIUS (Econostream) – The European Central Bank is not committing to a pre-determined rate path, ECB Governing Council member Olli Rehn said Tuesday.
Speaking at a press conference in Helsinki, Rehn, who heads the Bank of Finland, said, ‘We have not committed ourselves in advance to any particular interest rate path.’
The decisions on interest rates are made based on the inflation outlook, the dynamics of underlying inflation and the strength of monetary transmission, he noted.
In order to achieve the target level of inflation, ‘interest rates will be kept sufficiently restrictive as long as necessary’, Rehn said.