ECB’s Nagel: ECB isn't on autopilot on interest-rate cuts

Dhwani Mehta FXStreet

European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Friday that “the ECB isn't on autopilot on interest-rate cuts.”

Further comments

The decision to lower rates was logical.

The tendency is there that inflation is going down.

Inflation is proving to be stubborn, especially in the case of services.

Negotiated wages are expected to rise particularly sharply this year and continue to see strong growth thereafter.

Private consumption is to gradually pick up and exports are to improve from H2.

Expect that the new EU Commission will put stability and growth pact into practice.

Meanwhile, ECB policymaker Vasle said that “we can't predetermine the path of ECB interest rates.”

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.04%	-0.05%	-0.14%	-0.01%	-0.13%	-0.00%	-0.02%
EUR	0.04%		0.00%	-0.12%	0.03%	-0.08%	0.10%	0.02%
GBP	0.05%	-0.00%		-0.12%	0.02%	-0.09%	0.09%	0.00%
JPY	0.14%	0.12%	0.12%		0.14%	0.01%	0.16%	0.14%
CAD	0.01%	-0.03%	-0.02%	-0.14%		-0.12%	0.07%	-0.01%
AUD	0.13%	0.08%	0.09%	-0.01%	0.12%		0.18%	0.10%
NZD	0.00%	-0.10%	-0.09%	-0.16%	-0.07%	-0.18%		-0.07%
CHF	0.02%	-0.02%	-0.01%	-0.14%	0.01%	-0.10%	0.07%

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.

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