18.08.201608:19:00UTC+00ECB Minutes: More Time Needed To Assess "Brexit" Impact

Policymakers of the European Central Bank said more time was needed to assess the impact of the Brexit vote and it was premature to discuss any possible monetary policy reaction at this stage, the minutes of the rate-setting meeting showed Thursday.

"More time was needed to assess the incoming information over the coming months, although downside risks had clearly increased, the minutes said. The governing council meeting was held on July 20-21.

The ECB left its key interest rates unchanged for a third straight session in July.

Policymakers widely agreed that the immediate policy focus should remain on implementing the comprehensive set of policy measures decided in early March.

Members also observed solid evidence that the policy measures that had been adopted were effective and were working their way through to the broader economy over time.