ECB’s Stournaras: Current environment necessitates careful adjustment toward restrictive policy
European Central Bank (ECB) governing council member and Governor of the Bank of Greece, Yannis Stournaras, said in an interview with Greek newspaper Kathimerini that took place on Wednesday, released during the European trading session on Thursday, that the current environment necessitates a "careful adjustment" toward restrictive policy and an interest rate hike in the June policy meeting is now highly likely.
ECB’s Stournaras added that the central bank aims to prevent second-round effects without causing excessive damage to economic activity.
Market reaction
No immediate response seen in EUR/USD after ECB Stournaras comments, which is majorly driven by market sentiment. As of writing, EUR/USD trades 0.13% lower at around 1.1610 even after recovering a majority of its losses.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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