Kazaks: ECB could hike if Oil surge deteriorates inflation expectations

Dhwani Mehta FXStreet

The European Central Bank Governing Council member Martins Kazaks said in an interview with the public broadcaster LTV on Thursday, the central bank could opt for an interest rate hike if rising oil prices deanchored inflation expectations.

“Oil prices are higher, we see that it’s gradually starting to push inflation up, and if inflation expectations start to deteriorate, then the ECB will be forced to raise interest rates,” Kazaks said.

Market reaction

At the time of writing, EUR/USD is down 0.05% on the day, still defending the 1.1700 level.

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		0.00%	0.01%	0.00%	-0.00%	-0.01%	-0.02%	-0.05%
EUR	-0.01%		-0.01%	-0.04%	-0.02%	-0.07%	-0.07%	-0.05%
GBP	-0.01%	0.00%		0.00%	0.00%	-0.03%	-0.07%	-0.01%
JPY	0.00%	0.04%	0.00%		-0.02%	-0.03%	-0.06%	-0.07%
CAD	0.00%	0.02%	0.00%	0.02%		0.00%	-0.04%	0.00%
AUD	0.00%	0.07%	0.03%	0.03%	-0.00%		-0.01%	0.04%
NZD	0.02%	0.07%	0.07%	0.06%	0.04%	0.01%		0.03%
CHF	0.05%	0.05%	0.01%	0.07%	-0.01%	-0.04%	-0.03%

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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