Elizabeth Schnabela member of the Governing Council of the European Central Bank (ECB), said on Thursday that they will probably have to raise interest rates further until they reach restrictive territoryas reported by Reuters.
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“In the current environment, there is a risk that monetary and fiscal policies pull in opposite directions.”
“We remain ready to counter the fragmentation of financial markets that is not justified.”
“Incoming data so far suggests that room for maneuver to slow the pace of interest rate adjustments remains limited“.
“The new macroeconomic environment requires a different mix of monetary and fiscal policies.”
“The biggest risk for central banks remains falsely calibrated policy on the assumption of rapidly declining inflation.”
Market reaction
These comments did not elicit a noticeable market reaction and EUR/USD is trading at 1.0410 at time of writing, up 0.15% daily.
Source: Fx Street
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