ECB's Rehn: Central bank ready to act as appropriate unless economy improves
Comments by ECB governing council member, Olli Rehn
- Ready to act as appropriate unless there is improvement in economic conditions
- ECB's main goal is to make sure we meet price stability target
- Concerned about euro area economy but not forecasting any recession
- Euro area is facing short-term challenges now, mostly linked to trade tensions
- ECB has to be ready to react
Not as dovish as what Draghi sounded like earlier in the week but the sentiment is very much similar. The tone here points to risks being tilted to the downside and it continues to underscore the notion that the ECB will introduce more stimulus if economic data continues to disappoint over the coming months.