ECB policymakers voice concerns over EUR depreciation, back rate hikes ECB CentralBanks EURUSD InterestRate
, expressing their concerns over the depreciation of the euro while maintaining the case for further rate increases in the coming months.
Olli Rehn voiced his concerns over the inflationary impact of the falling euro, saying, “Certainly we are monitoring the exchange rate. This indirect channel is important - we are monitoring it and are looking at it as one indicator. It’s already a significant consideration” in setting monetary policy.”, Rehn said: “The reality is that we have excessively high inflation globally, also in Europe -- that’s why it’s action time.
"If there was a de-anchoring of inflation expectations, the effect on the economy would be even worse, Schnabel added. On the September rate hike decision, he said that “the increase needs to be strong and significant, and at the current moment, I would say 50 or 75 basis points.”
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