The trajectory of loosening of the European Central Bank’s monetary policy may require further adjustments if the current macroeconomic and inflation perspectives are confirmed, said ECB member José Luis Escrivá.
Last week, the ECB cut the interest rate and suggested a break after inflation in the eurozone returned to its target of 2%.
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Escriva, who is also president of the Central Bank of Spain, said in an interview with the newspaper El País on Sunday that “very comfortable” with the current and gradual approach of successive 25-point cuts on interest rates.
“Our central scenario – GDP growth of around 1% and 2% inflation – may require some fine adjustments if confirmed,” said Escriva.
The ECB has cut interest rates at 2 percentage points since June last year to support the eurozone’s economy, also hit by US economic and commercial policies.
