ECB’s Kazimir: EU fiscal response to crisis inadequate

Dhwani Mehta FXStreet

The European Union (EU) fiscal response to the crisis is inadequate, the European Central Bank (ECB) Governing Council member and Slovak central bank chief Peter Kazimir said on Tuesday, adding that the Eurogroup is not matching ECB’s efforts.

Kazimir, however, said that he is not opposed to PEPP increase but the decision should be based on granular data.

More comments

“European Court of Justice (ECJ) has sole authority over ECB’s actions.“

“No urgency in increasing pandemic purchases; must first examine how easing of lockdown measures impact the economy.”

EUR/USD jumps beyond 1.0800

EUR/USD extends its bounce towards 1.0830, although the above comments are not the main driver behind the move higher. The spot remains at the mercy of the USD price-action and risk trends ahead of the US CPI data.

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.

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