The President of the European Central Bank (ECB), Christine Lagardesaid in his appearance on Friday that “interest rate hikes should send a signal that we will meet the price target“.
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“We are facing a supply shock, but also strong elements on the demand side.”
“We have to react based on the complicated supply and demand situation.”
“Our actions may affect growth, but it is a risk that we have to take because price stability is a priority“.
Earlier, central bank policy maker Olli Rehn said he assumed there would be more rate hikes in the future.”
For his part, the vice president of the ECB, Luis de Guindos, said that “we do not have any estimate of the terminal rate.”
EUR/USD reaction
The EUR/USD it is moving away from the lows reached in the European open on Friday at 0.9945. At time of writing, the pair is trading above 0.9986, losing 0.14% daily.
Source: Fx Street
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