ECB's Centeno: We have to be cautious at the next meeting

<ul><li>Transmission of policy is up and running</li><li>ECB has been data dependent on decisions</li><li>Plenty of data still to come ahead of September decision</li><li>Downside risks to the economy have materialized</li></ul><p>That comment about downside risks tells you all you need to know — they're not hiking again.</p>

This article was written by Adam Button at www.forexlive.com.