ECB’s Panetta: Need to carefully assess incoming information, including exchange rate developments


“In light of the current outlook for inflation, we need to remain vigilant and carefully assess incoming information, including exchange rate developments,” said the European Central Bank (ECB) Executive Board Member Fabio Panetta on Tuesday.

Additional quotes

“The ECB’s governing council stands ready to adjust all of its policies, depending on incoming data, in order to bring inflation in line with its medium-term aim. “

“Overall, the balance of risks remains on the downside.”

“It is essential for Greece to complete the financial sector reforms needed to support the process of NPL reduction and guarantee an adequate supply of credit during the recovery.”

“The results achieved by our monetary policy measures are remarkable, but they are not fully satisfactory yet.”

Market reaction

The above comments fail to have any impact on the common currency. EUR/USD remains at the mercy of the US dollar price action and risk trends, as the focus shifts to the German ZEW data.

The spot was last seen trading at 1.1880, up 0.11% on the day.

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