ECB's Nagel: Need to be convinced inflation is heading back to target before cutting rates
Source Fxstreet
"Before cutting interest rates, we must be convinced based on data that inflation will actually reach our target in a timely and sustained manner," European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Tuesday.
"If the favourable inflation outlook from March is confirmed in the June projections and incoming data supports this outlook, we can consider a rate cut," Nagel further elaborated.
Market reaction
EUR/USD showed no immediate reaction to these comments and was last seen trading modestly higher on the day near 1.0670.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
TradingKey - Bitcoin prices continue to surge toward $82,000; however, will MicroStrategy's sell signal trigger a Bitcoin price crash?On May 6, although the largest Bitcoin holder, MicroStrategy ( MST
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $97.50 during the early Asian trading hours on Wednesday. The WTI price falls amid easing tensions in the Middle East.
West Texas Intermediate (WTI) trades around $101.10 on Tuesday, down 1.26% at the time of writing, after posting strong gains the previous day amid escalating geopolitical tensions in the Middle East.
Crypto Overview: Toncoin, Terra Classic rise by double digits as Bitcoin grips $80,000Bitcoin (BTC) rises above $80,000 at press time on Tuesday, triggering a broader market recovery despite the US-Iran ceasefire at risk as tensions resurface. Toncoin (TON) and Terra Classic (LUNC) are leading the market recovery with double-digit gains over the last 24 hours.
Bitcoin (BTC) rises above $80,000 at press time on Tuesday, triggering a broader market recovery despite the US-Iran ceasefire at risk as tensions resurface. Toncoin (TON) and Terra Classic (LUNC) are leading the market recovery with double-digit gains over the last 24 hours.
AUD/USD extends its losses for the second successive day, trading around 0.7160 during the Asian hours on Tuesday. Traders expect the Reserve Bank of Australia (RBA) to deliver an interest rate hike later in the day.
