European Central Bank vice president Luis de Guindos said on Wednesday that European defense spending increases are the number one priority, but budget stability also needs to be guaranteed.
The official noted that the current situation is one of high uncertainty, and given this environment, the ECB continues to maintain its approach to monetary policy.
De Guindos added that the ECB's policymakers will make decisions on a meeting-by-meeting basis depending on the data, as they don’t have any predetermined path for the evolution of interest rates in the coming months.
The ECB's VP also stated that eurozone inflation is on the right track and expressed confidence that the process of disinflation and convergence toward the 2% target will occur in the coming months.