By Marta Vilar – LONDON (Econostream) – European Central Bank Vice President Boris Vujčić said on Tuesday that the ECB was not prepared to provide forward guidance and wanted to keep "every meeting live."
Speaking during a panel at the Barclays CEPR Monetary Policy Forum 2026 in London, Vujčić said the neutral rate was not currently "a big topic" for the Governing Council and had not featured in recent discussions.
He said the upper end of the neutral rate range had risen by around 25 bp, "if anything," but stressed that he did not typically estimate the neutral rate himself, relying instead on the ECB's models.
Asked about market pricing and its role in the ECB's projections, Vujčić noted that the market-implied path for interest rates was always incorporated into the institution's forecasts.
He reiterated that the ECB was unwilling to provide forward guidance, saying policymakers wanted "to leave every meeting live" while remaining dependent on incoming data.
During the Q&A session, Vujčić said, “we might not land in restrictive territory again in this cycle, but we also might,” adding that “it all depends on incoming data.”
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