ECB's de Guindos: Future rate hikes will depend on incoming macroeconomic data

The European Central Bank's (ECB) future rate increases will depend on the incoming macroeconomic data, European Central Bank (ECB) Vice President Luis de Guindos, said on Monday.

"The ECB is carefully watching out for second-round effects and the bank is fully committed to 2% medium-term inflation target," de Guindos added and acknowledged that the third and fourth quarters point towards growth rates close to zero in eurozone.

Market reaction

There was no immediate market reaction to these comments and the EUR/USD pair was last seen trading flat on the day slightly below 0.9700.