ECB Vice‑President Luis de Guindos said in an interview on 30 April 2026 that his stance on monetary policy has shifted from hawkish to more prudent as the euro area’s economic conditions have changed. He noted that in 2022 he had called for higher rates when inflation peaked at 10 % and was concerned it would remain persistent, but by 2026 inflation had fallen to about 2 %. De Guindos said the current environment features expansionary fiscal policy, higher budget deficits, and a geopolitical conflict, and that the ECB has chosen to wait before deciding on a further rate increase. He also discussed Spain’s economy, noting that the country’s banking sector is sound, that Spain will lose a seat on the ECB Executive Board, and that cross‑border bank consolidation should be encouraged.
© European Central Bank, 2025.
Summary derived from the ECB website (https://www.ecb.europa.eu ).
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