European Central Bank Governing Council member Joachim Nagel said on Tuesday that the ECB will maintain a data-dependent and meeting-by-meeting approach, a strategy that has proven successful so far.
The official stressed the importance of caution in monetary-policy decisions, warning against overreacting to specific announcements that could quickly change.
Nagel also noted that the fast-changing and sometimes unprecedented decisions by the U.S. administration make monetary policy even more difficult.