ECB's Knot: If there are adverse scenarios, ECB determined to act

European Central Bank (ECB) Governing Council member Klass Knot crossed the wires in the last minutes, reiterating that it was indisputable that inflation was still too low and the bank was determined to act if there were adverse scenarios.

"We are still suffering from prolonged uncertainty," said Knot and added that the outlook for the second and the third quarters of the year was less favourable than the first quarter. Nevertheless, Knot also said that they were not in the recessionary territory yet.