ECB’s Kazimir: Key for me will be January repricing
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 Tuesday that the interest rate hike at the policy meeting earlier this month was “unavoidable”.
Peter Kazimir, a member of the European Central Bank's Governing Council and Governor of the National Bank of Slovakia, emphasized the necessity of the interest rate hike during the recent policy meeting. He attributed the higher inflationary pressures primarily to energy prices. Kazimir stressed that the key focus for the coming months would be the January repricing.
The Euro (EUR) experienced pressure against the US Dollar (USD) following Kazimir's comments, but the pressure seemed to stem from further appreciation of the US Dollar. As of the latest data, EUR/USD had decreased by 0.21% to around 1.1345. The European Central Bank, headquartered in Frankfurt, Germany, is responsible for setting interest rates and managing monetary policy for the Eurozone, with the primary goal of maintaining price stability, targeting an inflation rate of around 2%.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
