ECB’s Šimkus: If disinflation gets entrenched, rates could get lower than the natural level

Dhwani Mehta FXStreet

European Central Bank (ECB) Governing Council member Gediminas Šimkus said on Monday, “if disinflation gets entrenched, rates could get lower than the natural level.”

Additional quotes

The disinflation trend is on a stable track.

Services inflation remains high.

Risks to economic growth are skewed to the downside.

The policy will clearly become less restrictive.

I can't predict the outcome of December's meeting.

We'll have much more hard data by December.

Market reaction

These comments fail to move the needle around the Euro, keeping EUR/USD 0.10% lower on the day at 1.10854, as of writing.

Euro PRICE Today

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

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.11%	0.17%	0.15%	0.02%	0.22%	0.08%	0.12%
EUR	-0.11%		-0.01%	-0.05%	-0.03%	0.08%	-0.14%	-0.07%
GBP	-0.17%	0.01%		-0.04%	-0.14%	0.06%	-0.09%	-0.09%
JPY	-0.15%	0.05%	0.04%		-0.13%	0.08%	-0.01%	-0.08%
CAD	-0.02%	0.03%	0.14%	0.13%		0.10%	0.12%	-0.02%
AUD	-0.22%	-0.08%	-0.06%	-0.08%	-0.10%		-0.07%	-0.17%
NZD	-0.08%	0.14%	0.09%	0.01%	-0.12%	0.07%		-0.01%
CHF	-0.12%	0.07%	0.09%	0.08%	0.02%	0.17%	0.00%

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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