ECB's Kazimir: We should act before high inflation starts to feel normal
European Central Bank (ECB) Governing Council member and Governor of the National Bank of Slovakia (NBS), Peter Kazimir, said during the European trading session on Monday that the focus is more on how much further monetary policy tightening is needed.
Remarks
The question is increasingly not if further ecb action is needed but how much.
Waiting for inflation to spread and businesses to pass costs on not necessarily good policy.
Markets may still underestimate what path is required.
Market reaction
There is a sharp increase in Euro (EUR) against the US Dollar (USD) during the release of ECB Kazimir's comments; however, it appears to be the outcome of weakness in the US Dollar. As of writing, EUR/USD is up 0.7% to near 1.1230.
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