ECB’s Patsalides Says Next Steps for Rates Will Be Data Driven

The European Central Bank will rely on economic data in determining what to do at its next monetary-policy decision in July, according to Governing Council member Christodoulos Patsalides.

“Further actions of ECB will depend on the data we will have,” he told reporters in Nicosia. There is no specific direction to which the central bank is committed and it retains its options. “We will see data at our next meeting and decide accordingly.”