ECB's De Guindos: We are going to have low rates for a long time

European Central Bank (ECB) Vice President Luis de Guindos, who earlier today said that the ECB's monetary policy was data-dependent, in the last minutes said that they are going to have low rates for a long time. When asked about the bank potentially using negative interest rates, "The ECB has to act with determination," De Guindos responded.

The shared currency seems to be facing a modest pressure on these remarks with the EUR/USD pair erasing its daily gains and turning flat at 1.1100.