ECB’s Escriva: It's very unlikely that we will touch rates at the next meeting

In an interview with the regional Catalan TV3 television on Friday, European Central Bank (ECB) policymaker Jose Luis Escriva commented on the monetary policy outlook in the face of the ongoing Middle East conflict.

Key quotes

With the information I have, I think it's very unlikely that we will touch rates at the next meeting.

We can already take it for granted that there will be effects" from the war.

Our inflation target of 2% is a medium-term horizon, transitory movements should not necessarily lead us to make decisions. Instead, we must monitor the situation and assess to what extent this is having more persistent effects over time.