European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel told Deutschland funk on Wednesday that he is “optimistic that monetary policy is having an impact.”
He stated that he is not concerned about German banks.
“We may be nearing the end of the rate hike cycle.”
“But we haven’t finished hiking yet.”
“There is still work to be done in terms of core inflation.”
“On monetary policy, we are staying the course.”
“Very satisfied with the ECB’s monetary policy.”
“Lagarde and I have the same policy understanding.”
ECB statement reaction on Market
The aforesaid comments fail to move the needle on the Euro, as EURUSD trades +0.09% higher at approximately 1.0970.
