ECB Isn’t Guided by Market on Rate Cuts, De Cos Says

The European Central Bank looks to its own economic outlook rather than what investors anticipate when it sets monetary policy, according to Governing Council member Pablo Hernandez de Cos.

The Spanish central bank chief expressed confidence that inflation is heading back to the 2% target but said officials will continue to be guided by data. While traders are leaning toward a cut in interest rates in April, most ECB policymakers seem to favor a move in June at the earliest.