ECB’s de Guindos: ECB will stick to communicating monetary policy on meeting by meeting basis

European Central Bank (ECB) Vice President Luis de Guindos is delivering a speech at "Catedra de Economía y Sociedad" organized by Fundación La Caixa in Madrid.

Key quotes

I'm convinced that core inflation will also come down, but starting point is very high.

ECB will stick to communicating monetary policy on meeting by meeting basis, data dependency, will not shift to forward-guidance for months.

Market reaction

These comments fail to have little impact on the Euro. The EUR/USD pair is trading at 1.0952, losing 0.12% on the day, as of writing.