Euro zone economy losing momentum, ECB’s de Guindos says

FILE PHOTO: European Union finance ministers meet for monthly talks in Brussels
FILE PHOTO: European Central Bank (ECB) Vice-President Luis de Guindos attends an European Union finance ministers meeting in Brussels, Belgium January 21, 2020. REUTERS/Johanna Geron

October 12, 2020

FRANKFURT (Reuters) – The euro zone economy is losing momentum and the European Central Bank will react accordingly, ECB Vice President Luis de Guindos said on Monday, citing December’s macro-economic projections as a key guide for future policy moves.

“High-frequency indicators point to (the economy) losing a certain momentum,” de Guindos told a live interview with the Institute for International Finance.

“Our policy reaction will be consistent with the evolution of the situation.”

“We will have new projections in December and will assess how adequate the package is according to new projections but we don’t have a concrete date… and we’re doing that continuously,” de Guindos added.

(Reporting by Francesco Canepa; Editing by Susan Fenton)