Simkus Warns Against Overreaction as ECB Prepares for Next Policy Meeting

European Central Bank (ECB) Governing Council member Gediminas Simkus emphasized the importance of staying calm in the face of uncertainty, particularly regarding the ongoing war in the Middle East. He cautioned against overreacting to current events when it comes to monetary policy decisions.

'It's very important to stay calm for the next policy meeting,' Simkus noted, 'and not overreact.'

Simkus acknowledged that a deeper crisis may have implications for prices and economic growth, but emphasized that any decision must be based on the best available information at the time of the meeting.

The ECB's Governing Council meets eight times a year to make monetary policy decisions. These decisions are made by the heads of Eurozone national banks and six permanent members, including ECB President Christine Lagarde.