Luis de Guindos: More data will help European banks better assess the situation and decide on interest rates

The new data and macroeconomic forecasts will help the European Central Bank (ECB) to better assess its monetary policy in September. As a result, the Bank will be in a better position to decide on the further development of interest rates. This was stated by Luis de Guindos, Vice-President of the ECB. The RTÉ portal reported on this.

“We decided to keep interest rates unchanged. We will get more necessary information in September,” De Guindos said this in an interview with Euronews, referring to the ECB’s decision last week not to change interest rates. “September is a better month to make decisions than July because there will be so much more data,” The ECB Vice President added.

At its last meeting before the summer holidays on July 18, the ECB kept interest rates unchanged after cutting them by 25 basis points in June. As a result, the main interest rate remained at 4.25% and the deposit rate at 3.75%.

For more information on this topic:

Deposit Rate
,
European Central Bank
,
Key interest rates
,
Luis de Guindos
,
interest rate