(Bloomberg) -- European Central Bank Vice President Luis de Guindos reiterated that he and his colleagues will have much more information to decide on interest rates when they meet in June. 

Speaking at an event in Madrid on Tuesday, the former Spanish finance minister didn’t dwell much on the outlook for borrowing costs, while cautioning that things could turn out differently from what investors expect. 

The ECB will have “far more data” to better evaluate its decisions in June, de Guindos said. 

“Market views are very optimistic that we will have a soft landing and that inflation will continue to fall,” he added. “But there could be a different situation that leads to an abrupt adjustment.”

ECB policymakers are converging toward a first reduction in borrowing costs at their decision in June. Some, such as Greek central bank Governor Yannis Stournaras, have begun to speculate on the need for a series of cuts beyond that. 

Spanish central bank Governor Pablo Hernandez de Cos, speaking at the same event as Guindos, didn’t elaborate a path beyond the June decision.

“We can anticipate, and markets are anticipating, that we may be able to soon start cutting interest rates,” he said “The date everybody is expecting, if the macro and inflation forecasts are met, is that rate cuts could start in June.”

De Cos cautioned that this isn’t “explicit monitory policy guidance” but rather “guidance that is conditioned by the evolution of data and how they can surprise us in one direction or another.”

(Updates with De Cos in fifth paragraph)

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