February 6, 2020 / 9:57 PM / 13 days ago

ECB's de Guindos says BBVA spying case has no impact on bank's financial stability

MADRID (Reuters) - European Central Bank Vicepresident Luis de Guindos said on Thursday that a corporate spying case linked to Spain’s BBVA (BBVA.MC) hasn’t had any impact on the bank’s financial stability.

“There hasn’t been any impact in terms of financial stability or in terms of the business’s development,” De Guindos told Spanish radio station Cadena Ser, adding that the case is a thing of the past, without impacting the bank’s share price.

De Guindos also addressed the debate over the ECB’s strategic review, saying that the bank must look for consensus among its members in how it sets and assesses inflation targets.

The ECB launched a one-year review of its strategy last month and will likely tweak its inflation target at the end while also looking at the effectiveness of its various policy tools, many of which were invented in the aftermath of the euro zone’s debt crisis.

Reporting by Nathan Allen; editing by Jesús Aguado

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