September 24, 2019 / 2:48 PM / 5 months ago

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

FRANKFURT (Reuters) - The European Central Bank must look beyond the recent, positive labor 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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