ECB’s Coeure says the bank won’t rush further stimulus

Executive Board Member of the European Central Bank (ECB) Benoît Coeure said on Monday that adding further stimulus depends on the euro zone economic data in the coming period.

These statements positively influenced the EUR/USD pair that consolidated around its highest level in two days on 09:02 GMT around 1.2435, compared to the opening levels at 1.2440.

Coeure added in an interview with Bloomberg, “We’re not going to rush to a new decision without knowing. We have to look at the data around us, and we have to discuss thoroughly all possible options in particular when it comes to buying new assets. There’s unanimous agreement in the Governing Council that there might be situations where we’d have to do more.”

These remarks played down ECB President Mario Draghi’s statements on Friday that the bank will do whatever necessary to support inflation rates as soon as possible.

The interest rate decision on the fourth of December is very important and is to be scrutinized by market watchers. Will it reveal the ECB’s decision regarding expending it quantitative easing policies? The decision will be partly based on the initial expectations for the annual consumer price index for the euro zone next Friday.