Member of the European Central Bank on Monday proposed to be cautious in the manifestations of optimism about the easing of international economic downturn, as the massive fiscal and monetary stimulation comes into force.
"The market has a certain amount of good news, especially in soft indicators. We have seen some improvement in many financial markets," - said Miguel Angel Fernandez Ordonez. (Ordonez - members of the Governing Board of the European Central Bank and the head of the Bank of Spain.) "There are signs that the worst economic crisis in the first quarter," he told reporters outside the meeting of heads of central banks in the Bank for International Settlements.
Head of the Central Bank must be "very careful" in assessing the economic outlook.
Responding on the run for retail prices, Ordonez said that "there is no big risk of deflation, or significant drop in consumer prices in the euro area.
"The market has a certain amount of good news, especially in soft indicators. We have seen some improvement in many financial markets," - said Miguel Angel Fernandez Ordonez. (Ordonez - members of the Governing Board of the European Central Bank and the head of the Bank of Spain.) "There are signs that the worst economic crisis in the first quarter," he told reporters outside the meeting of heads of central banks in the Bank for International Settlements.
Head of the Central Bank must be "very careful" in assessing the economic outlook.
Responding on the run for retail prices, Ordonez said that "there is no big risk of deflation, or significant drop in consumer prices in the euro area.
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