“At a particularly uncertain time, the process of raising interest rates should be gradual“, said on Wednesday the member of the Governing Council of the European Central Bank (ECB) and head of the Spanish central bank, Pablo Hernandez de Kosaccording to Reuters.
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“A gradual withdrawal of extraordinary monetary stimulus is appropriate in the current context“.
“The end of the bond purchase program should be concluded by the beginning of the third quarterand the first rise in interest rates would take place shortly after“.
“could occur further rate hikes in the following quarters if the medium-term inflation outlook remains around target.”
“The increase in pressure on prices in the eurozone in recent months increases the probability of second-round effects that have not materialized strongly.”
“Signs of changes in medium-term inflation expectations above target require monitoring.”
market reaction
The pair EUR/USD rose slightly on these comments and was last seen at 1.0525, down 0.2% on the day.
Source: Fx Street
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