ECB’s Vasle: Decisions Will Continue to Be Data-Dependent

19 July 2024

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Friday said that the ECB would remain dependent on economic data and in particular on the analysis of inflationary trends when deciding on interest rates, without committing to a predetermined path.

In a statement published on the website of the Bank of Slovenia, which he heads, Vasle said, ‘Our further steps will continue to depend on the current situation, i.e. on economic and financial data, the movement of core inflation and the effectiveness of our measures. This means that we are not committed to any predetermined path of interest rates.’

The ECB’s latest decision to keep interest rates unchanged was the ‘appropriate approach’ to guarantee the timely return to the inflation target, he said.

‘[F]inancial indicators show that the monetary policy transmission is working smoothly and homogeneously and supporting the return of inflation to the medium-term target level of 2%’, he said.