ECB's Schnabel: Our measures are having the desired effect

Eren Sengezer FXStreet

The European Central Bank's (ECB) policy measures are having the desired effect, Isabel Schnabel, member of the Executive Board of the ECB, said on Friday. "Sometimes it takes time for measures to work," Schnabel further added.

Earlier in the day, ECB chief economist Philip Lane said that the ECB's policy has to remain very accommodative amid a lack of monetary momentum in the inflation dynamic.

Market reaction

The EUR/USD pair largely ignored these comments and was last seen gaining 0.32% on a daily basis at 1.1852.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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