ECB’s Lange, Nagel signal higher rates, more pain ahead – by anilpanchal7 ECB EURUSD RiskAppetite CentralBanks NewsTrading
asingly adding to sky-high inflation,” ECB Chief Economist Philip Lane said on Saturday per Reuters. “At 0.75%, the ECB's deposit rate is still too low as it continues to stimulate the economy, so the ECB's job is not yet done,” ECB’s Lane added.Although Lane said rates could continue to go up at each remaining meeting this year and may rise early next year, too, the ECB is keeping an open mind about where to stop and will decide meeting by meeting.
Elsewhere, said ECB Governing Council member and German central bank head Joachim Nagel stated that the ECB rates are far away from levels that are suitable for inflation. The policymaker also added that he doesn’t see a hard recession.braces for this week’s Federal Open Market Committee meeting while grinding higher around 1.0015 by the press time of early Monday morning in Asia.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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