ECB's Kazaks: Keeping 2% inflation will require some further cuts for fine tuning
European Central Bank (ECB) policymaker Martins Kazaks said on Wednesday, “quite likely keeping 2% inflation will require some further cuts for fine tuning.”
Additional quotes
Market pricing of one more cut or so not out of the realm of the baseline.
Fine-tuning cuts will very much depend on how the economy develops.
May at some point, not yet by any means, go into accommodative territory.
Must be cautious about potential persistence of undershooting.
We need to take care of those risks of a too persistent or large deviation from target.
So far, seems deflationary effect of trade tensions could dominate, but final outcome open.
June cut to ensure that inflation in 2026 eventually turns the corner and starts returning towards 2%.
Market reaction
At the time of writing, EUR/USD is holding steady at 1.1428, awaiting the US Consumer Price Index (CPI) data for fresh trading impetus.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.06% | 0.08% | 0.13% | 0.05% | 0.16% | 0.37% | -0.10% | |
| EUR | 0.06% | 0.13% | 0.17% | 0.09% | 0.20% | 0.37% | -0.05% | |
| GBP | -0.08% | -0.13% | 0.04% | -0.01% | 0.09% | 0.25% | -0.19% | |
| JPY | -0.13% | -0.17% | -0.04% | -0.16% | 0.05% | 0.23% | -0.25% | |
| CAD | -0.05% | -0.09% | 0.00% | 0.16% | 0.14% | 0.28% | -0.17% | |
| AUD | -0.16% | -0.20% | -0.09% | -0.05% | -0.14% | 0.17% | -0.26% | |
| NZD | -0.37% | -0.37% | -0.25% | -0.23% | -0.28% | -0.17% | -0.44% | |
| CHF | 0.10% | 0.05% | 0.19% | 0.25% | 0.17% | 0.26% | 0.44% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
