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ECB: 50 basis points is the minimum for the October rate hike – Gediminas Simkus

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ECB: 50 basis points is the minimum for the October rate hike – Gediminas Simkus

Gedimina Simkusresponsible for the policy of the European Central Bank (ECB), He was in favor of a rate hike of at least 50 basis points in October, during the early hours of Thursday in Europe.

Featured Statements

The rate hike option for October is 75 basis points, 50 is the minimum.

A 100 basis point move would be too much right now.

I don’t think we have any fragmentation problems right now.

We need to start talks on the QT program as soon as possible.

EUR/USD remains under pressure

Despite recent comments from ECB policy makers, the EUR/USD remains lower as traders are more concerned about the energy crisis in the bloc than the rate hike. That said, the pair remains lower near the intraday bottom around 0.9655 at press time.

Source: Fx Street

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