Panetta, ECB: Acting on rates before viewing Q2 data would be imprudent.

Before analyzing the Q2 data, it would be improper to react to the rates said by the European Central Bank (ECB) executive board member, Fabio Panetta, while commenting on the potential July rate increases.

May 05, 2022 - 12:26 PM 239 views

Panetta, ECB: Acting on rates before viewing Q2 data would be imprudent.

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© Panetta, ECB: Acting on rates before viewing Q2 data would be imprudent.

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Before analyzing the Q2 data, it would be improper to react to the rates said by the European Central Bank (ECB) executive board member, Fabio Panetta, while commenting on the potential July rate increases.

Furthermore, he added that the European Central Bank (ECB) would end the nullifying rates cycle after concluding when to end QE in Q3. In addition to this, he further mentioned that the ECB needs to strengthen its European cooperation while fighting inflation at the same time.

The Market Reaction

Still delayed by its Fed-inspired recovery rally, the EUR/USD currency pair holds above 1.0600. Currently, the EUR/USD pair is trading at 1.0614, uninterrupted by the above comments, and it is down by 0.05% in a day.

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