Search ForexCrunch

European Central Bank (ECB) Vice President Luis de Guindos on Tuesday said that the ECB’s monetary policy was data-dependent, not market-dependent and argued that they need to take the expectations that financial markets are pricing in with a pinch of salt, per Reuters.

“There is a tight two-way relationship between central banks and financial markets,” De Guindos explained. “It is important for us to get the market view about where the economy stands, and where it is heading.”

The EUR/USD pair’s reaction to these comments was subdued. As of writing, the pair was up 0.05% on the day at 1.1105.