The minutes of the most recent policy meeting of the European Central Bank (ECB), published on Thursday, said members widely expressed concern about the high inflation numbers. Some members considered that it is important to act without delay to show the ECB’s determination to achieve price stability.
The minutes note that the members express that many of the upward risks of inflation presented months ago have materialized. In the discussions, members pointed out that the statement’s reference to the fact that the rate hike will begin “some time” after the purchase program is completed, does not prevent a timely rise if conditions warrant it.
In the discussions, the members established that the “flexibility” should be a permanent feature among the tools to be applied. It was also stated that relatively small steps could be enough to turn the current accommodative stance of monetary policy into an aggressive stance.
The euro It didn’t have a big impact behind the data. EUR/USD pulled back from daily highs but remained positive above 1.0500.
Source: Fx Street
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