ECB official Simkus says rate action is possible at any policy meeting

European Central Bank Governing Council member Gediminas Simkus said further action to control inflation is possible at any monetary policy meeting. The Lithuanian official said December will be an appropriate time to assess the economic situation in more detail, as more data will be available and updated projections will be released. But he also noted that the ECB must also closely monitor energy prices before next month's meeting. "As early as October, we will be able to assess the inflation outlook and judge whether it is deteriorating or improving," Simkus said in Vilnius on Monday. "I cannot rule out the possibility of action at any meeting. We will make decisions meeting by meeting based on incoming data."