ECB’s Villeroy: Will maintain its rate at 4% for a sufficiently long time

European Central Bank's (ECB) Governing Council member Francois Villeroy de Galhau said on Tuesday, “ECB will maintain its rate at 4 pct for a sufficiently long time, as it is an efficient remedy.”
Additional quotes
Inflation is a sickness, interest rates are the medicine, the medicine is beginning to work.
Current ECB rate is at a good level, better to be patient now.
Once inflation comes back towards 2, ECB rate can be lowered.
The ECB is not at the point today where we could cut rates.
Market reaction
EUR/USD is testing lows near 1.0675 on the above comments, down 0.12% on the day.
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.

















