Forex News: European Central Bank Executive Council Member Jose Manuel Gonzalez Paramo said Wednesday that the ECB will continue to closely monitor economic and inflation data in the coming months.
"Our obligation is to assure (European citizens) that they can trust the ECB to do whatever is necessary at all times to anchor inflation expectations and mid-term price stability," Gonzalez Paramo said at a financial conference.
The European Central Bank last week hiked its key reference rate 25 basis points to 4.25% to fight record high euro-zone inflation. After the rate decision, ECB President Jean-Claude Trichet said the bank had no bias regarding future interest rate moves.
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