European Central Bank (ECB) Governing Council member Ignazio Visco said on Tuesday, “rate hikes will have to be gradual given economic uncertainties.”
Additional quotes
The key is to ensure policy normalisation does not lead to unwarranted market fragmentation.
Given uncertainties, rates will have to be raised gradually.
Monetary policy cannot counter increase in commodity prices.
Market reaction
Ahead of the Eurozone preliminary inflation data, EUR/USD is trading listlessly around 1.0740. The pair loses 0.32% on the day.
