ECB’s de Guindos on interest rate cuts: We are not there yet

Market news

9 November 2023

ECB’s de Guindos on interest rate cuts: We are not there yet

In a newspaper interview on Thursday, European Central Bank (ECB) Vice President Luis de Guindos said “we are not there yet” when asked about reducing interest rates.

Additional quotes

We have to be prudent and cautious, as there are some risks around the outlook for inflation over the next few months.

Leading indicators point to the growth outlook being somewhat more negative than we previously projected.

Market reaction

EUR/USD is unfazed by the above comments, still holding just above 1.0700, as of writing.

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Market Focus

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