The statements of the vice-president of the ECB Luis de Guindos were as follows:-
- While we are moving in the right direction, we must not get ahead of ourselves.
- It will take some time before we get the necessary information.
- Wage pressures are still high and we do not yet have enough data to confirm that they are starting to subside.
This keeps the door open for the ECB to move after getting more favorable wage data around May. At the moment, the probability of an interest rate cut in April is about 62%.
