ECB's Rehn: Inflation provided reason to expedite normalisation of policy
|"With inflation rising sharply, there has been good reason to expedite the normalisation of monetary policy," European Central Bank Governing Council member Olli Rehn said on Tuesday, as reported by Reuters.
"The impacts of Russia's brutal war are being felt around the world and people are having to pay higher prices for energy and food," Rehn added.
Market reaction
The shared currency continues to gather strength following these comments. As of writing, the EUR/USD pair was trading at 1.0570, where it was up 0.57% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.