The member of the Governing Council of the European Central Bank (ECB), Ignazio Visco, he said on Thursday that he expects the ECB to continue raising the official interest rate gradually and steadily after September, as reported by Reuters.
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“Future rate hikes after September will depend on new data and its impact on the prospects for price stability in the medium term.”
“The markets perceive a hawkish stance from the ECB which, in my opinion, is not appropriate.”
“The ECB will continue to focus on economic developments, which are currently highly uncertain.”
“I am convinced that the ECB’s determination will help restore greater order to the markets.”
“A more orderly market will help investors better assess the real conditions in our economy.”
market reaction
The EUR/USD pair showed no immediate reaction to these comments and was last seen losing 0.15% on the day at 1.0428.
Source: Fx Street
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