The European Central Bank will lower interest rates when it’s convinced that consumer-price growth is returning to its target, Vice President Luis de Guindos reiterated. “When the data we receive on inflation, and underlying inflation, make it clear that we’re approaching 2%, monetary policy will be modified,” Guindos told Spain’s Antena 3 Television on Wednesday. The remarks come just before the weeklong quiet period that precedes ECB rate decisions and echo calls for patience from most Governing Council members. With a majority keen to see a raft of data due in the coming weeks before easing borrowing costs, a cut ... (full story)