September 18, 2019 / 8:21 AM / a month ago

European rates will not rise while inflation is below target - ECB's De Guindos

MADRID, Sept 18 (Reuters) - As long as inflation in the euro zone does not converge to the European Central Bank’s (ECB) target, interest rates in the bloc will not rise, ECB Vice President Luis De Guindos said on Wednesday.

De Guindos was speaking a week after the ECB cut rates deeper into negative territory and promised bond purchases with no end-date in a bid to reverse a renewed slowdown in the euro zone’s economy nearly a decade after a debt crisis.

Economics risks remain tilted to the downside, De Guindos added at an event in Madrid. (Reporting by Jesus Aguado, editing by Isla Binnie)

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