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ECB must look beyond labour data in quest for inflation: de Guindos

ECB must look beyond labour data in quest for inflation: de Guindos
FILE PHOTO: Luis de Guindos, vice-president of the European Central Bank, speaks during a Reuters Breakingviews event in New York, U.S., April 25, 2019. REUTERS/Brendan McDermid -
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Brendan McDermid(Reuters)
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FRANKFURT (Reuters) – The European Central Bank must look beyond the recent, positive labour data when setting its policy as those won’t necessarily translate into higher inflation, the ECB’s Vice-President Luis de Guindos said on Tuesday.

“The current low unemployment rate and the recent wage increases do not necessarily imply that higher inflation is around the corner,” de Guindos told an ECB event.

“Monetary policy decisions need to be based on a wide array of economic indicators, not just the unemployment rate and wages, he added.

(Reporting by Balazs Koranyi and Francesco Canepa)

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