ECB's Escriva: We are at an appropriate level of interest rates, no need for further guidance

European Central Bank Governing Council member Jose Luis Escriva said on Wednesday,, “we are at an appropriate level of interest rates, no need for further guidance.”

Further comments

Risks to inflation are well much balanced.

But trade disruptions from US could be potentially inflationary.

Downside risks to growth in the euro area have not emerged.

Meeting-by-meeting approach is to keep full optionality.

The environment is still uncertain.

There could be an option for another move on rates, optionality means optionality.

Market reaction

EUR/USD keeps the red following these comments, losing 0.35% so far at 1.1613.