Elizabeth Schnabel, a member of the Executive Board of the European Central Bank, stated that there is no doubt that the ECB will have to take additional measures to bring inflation back to target. He made this statement on Tuesday during a conference at the Hessischer Kreis.
Schnabel mentioned that the slowdown in interest rate increases allows the ECB to assess the impact of the measures it is taking. He clarified that underlying inflation has not experienced a trend change like the general one. According to her, rate cuts are unlikely in the near future.
Market reaction
The EUR/USD pair is falling on Tuesday but has moved away from the lows and climbed back above 1.0960 as the US dollar loses momentum. However, the euro remains one of the worst performing currencies in the G10.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
