ECB policymaker Simkus: Sees at least one more rate hike to cap inflation expectations
European Central Bank (ECB) policymaker, Gediminas Šimkus, crossed the wires during the early European session on Wednesday, saying there's still enough upside risk for inflation to justify additional policy tightening.
Simkus expects the ECB to deliver at least one more rate hike to make sure inflation expectations remain in check. He stressed that capping inflation expectations remains central to the ECB’s goal to keep inflation around target over the medium term.
Market Reaction:
The EUR/USD pair struggles to attract any meaningful buyers as traders seem hesitant ahead of the crucial FOMC rate decisions. However, firming expectations for at least one more interest rate hike by the ECB might continue to act as a tailwind for the currency pair.
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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