The European Central Bank (ECB) It currently does not see the need for a rate cut, as other instruments are better suited to support economic recovery, the policymaker of the BCE Martins Kazaks, as reported by Reuters.
Commenting on the use of rate cuts as a policy tool, “although this instrument has not been recalibrated recently, it is not out of the question,” said Kazaks. “If circumstances change, as previously reported, the Governing Council will discuss all possible instruments, including a cut in the deposit facility rate.”
Market reaction
The pair EUR/USD It was down slightly after these comments and was last seen trading at 1.2120, where it was up 0.1% on the day.
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