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Interview with Luis de Guindos, Vice-President of the ECB, conducted by Sergio Rivas
23 July 2024
Last Thursday’s meeting seems to have left everything open with regard to September.
We based our decision on the data we received since the last monetary policy meeting in June. For inflation, those data are practically in line with our projections. However, there was some worsening in the data for economic growth, owing mainly to the political uncertainty following the European and French elections. That said, we decided to keep interest rates unchanged because we will have more information in September, and especially new macroeconomic projections, so we will be able to better reassess the monetary policy stance. Data-wise, September is a much more convenient month for taking decisions than July was.
When you talk about increasing confidence, aren’t you at the same time saying that you are not yet confident?
The current level of uncertainty is huge, so we have to be prudent when…