ECB’s Makhlouf: Do not think we're in restrictive monetary policy rate territory now

Dhwani Mehta FXStreet

European Central Bank (ECB) Governing Council member Gabriel Makhlouf said on Monday, “I do not think we're in restrictive monetary policy rate territory now.”

Additional quotes

“Anticipates that 50 basis point rise is where we’ll end up.”

“We haven’t reached the stage that we’re confident we have inflation under control.”

“Anticipates that there will be further interest rate increases in the new year.”

“Do not see quantitative tightening starting in January, expects to see some changes implemented by end-Q1.”

“Fiscal policy potentially becoming marginally unhelpful in the euro zone to bringing inflation under control.”

Market reaction

EUR/USD is drawing support from the latest hawkish remarks from the ECB policymaker. The pair was last seen trading up 0.16% on the day at 1.0555.

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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