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BREAKING NEWS

Recent data suggest weakening euro zone, ECB's Rehn tells paper

Recent data suggest weakening euro zone, ECB's Rehn tells paper
Finland's central bank governor Olli Rehn speaks during an interview in Helsinki, Finland July 17, 2018. REUTERS/Ints Kalnins -
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INTS KALNINS(Reuters)
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BERLIN (Reuters) - Recent data point to a weakening euro zone economy, the European Central Bank's Olli Rehn told Germany's business daily Handelsblatt on Sunday, adding that interest rates would remain at the current level until monetary policy goals have been met.

"Yes, the most recent data point to a weakening of the economy," Rehn, the Finnish central bank chief, said. He attributed it to greater uncertainties outside the euro zone, such as the trade conflict between the U.S. and China.

Asked about a shift in market expectations of future rate hikes being pushed back to later in 2020, Rehn said: "I don't comment on market developments. But our monetary policy orientation is clear. We have said that rates will be at their current level until we have sustainably reached our monetary policy goal."

(Reporting by Tom Sims and Madeline Chambers)

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