Forex News May 06, 2022

ECB

Vasle of the ECB: Rate hikes should begin before the summer

The ECB hawks are out in force today

Inflation is becoming widespread Cannot say that monetary policy cannot curb inflation pressures

Holzmann, Nagel, Kazaks, Knot, Villeroy, and now Vasle have been the most vocal in their calls for faster rate hikes. But it’s possible that Rehn’s shift is the more significant one here. He is perceived as a bit of a dove, so siding with the hawks may indicate a shift in thinking within the ruling council.

So far today, the euro has benefited from the mood music, with EUR/USD up 0.4 percent to 1.0580.

Dollar

  • Vasle of the ECB: The best time to start raising rates is before the summer
  • The ECB hawks are out in force today
  • Inflation is becoming widespread It is incorrect to assert that monetary policy is incapable of containing inflationary pressures.

Holzmann, Nagel, Kazaks, Knot, Villeroy, and now Vasle have been the most vocal in calling for faster rate hikes. However, Rehn’s shift here may have been the most significant. He is perceived as a bit of a dove, so siding with the hawks may signal a shift in thinking within the governing council.

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