ECB’s Panetta: Governing Council should reassess the macroeconomic outlook

Dhwani Mehta FXStreet

Further comments crossing the wires from the European Central Bank (ECB) Executive Board Member Fabio Panetta’s interview with the Portuguese newspaper Expresso.

Panetta said: “We should expect the Governing Council to reassess the macroeconomic outlook.”

Additional quotes

And also recalibrate its measures accordingly.

Outlook for inflation has clearly deteriorated.

It is clear that our stimulus so far has not been sufficient.

In spring, we reacted quickly and we should do so again.

Need to eliminate doubts about our determination to preserve price stability.

We have firepower, we have instruments that we can calibrate.

Earlier today, the policymaker said that “there should be no doubt on the central bank’s inflation commitment.”

Market reaction

EUR/USD flirts with daily highs near 1.1930, as the US dollar loses further ground against its main peers amid a recovery in the risk sentiment.

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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