ECB’s Vujčić highlights stagnating Eurozone economy, peaking inflation to defend “wait and see” approach
|European Central Bank (ECB) policymaker and Croatian National Bank Governor Boris Vujčić crossed wires via Bloomberg TV interview as he appeared at the Jackson Hole Symposium.
The policy maker initially highlighted the stagnating economy of the bloc and a likely peak in the inflation before defending the current monetary policy.
ECB’s Vujčić also highlighted the need to see whether rates are restrictive enough to determine the future course of action.
Market reaction
After the news, EUR/USD drops to the fresh low in 10 weeks while taking offers to around 1.0794 by the press time of early Friday morning in Asia.
Also read: EUR/USD drills 10-week low near 1.0800 with eyes on ECB’s Lagarde, Fed Powell’s speech
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.