ECB’s Kazimir: There’s a Room to Wait for More Reliable Data

Peter Kazimir, a member of the European Central Bank’s governing council, said the eurozone economy is growing according to the path the European Central Bank expected in June, so policy makers still have room to wait for hard, more detailed data.

Initially, it seemed that the Eurozone economy was recovering faster than expected from the recession caused by the pandemic, but the latest data, including a weak reading of the PMI, indicates the stability of the recovery pace and that the bloc may not meet expectations for the third quarter.

“It seems that we are in line with the baseline scenario. We have time to wait for reliable detailed data,” Kazimir, the governor of the Slovak Central Bank, told Reuters on the sidelines of a press conference.

“It makes no sense to take action based on Q2 data,” Kazimir added.