European Central Bank (ECB) Governing Council member Ignazio Visco said on Thursday that the weak data give them the responsibility to act in a prudent way while progressively normalizing the policy stance, as reported by Reuters.

"We have to avoid strong measures," Visco added and noted that they don't have to worry about the exchange rate for the time being.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was down 0.4% on the day at 1.0160.