Central Bank governor Gabriel Makhlouf warns 'uncertainty the new certainty'

Mr Makhlouf and Spanish counterpart say policy must adapt to new nature of supply shocks

The governor of the Central Bank Gabriel Makhlouf has said the European Central Bank must be prepared to react quickly if economic growth and inflation diverge from expectations, with "uncertainty the new certainty".

The governor of the Central Bank Gabriel Makhlouf has said the European Central Bank should not rely on its baseline outlook and must be prepared to react quickly if economic growth and inflation diverge from expectations, with "uncertainty the new certainty".

Mr Makhlouf and fellow ECB governing council member Jose Luis Escriva said on Tuesday that the new trade environment will need a fluid policy.