Negative sentiment to the EUR after a comment by Ewald Nowotny (ECB)

30.03.2017 / 15:02

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The representative of Austria at the ECB, Ewald Nowotny said in the media that the monetary policy of the central bank is almost predefined by the end of 2017. This suggests that speculation to the end of QE program and the probable increase in interest rates in Europe are less likely. Nowotny said that the ECB should be protected from unnecessary mistakes like interest rates hike by the Fed before the financial crisis, when the decision proved premature in an attempt to overtake the market. Rather the aim of the ECB by the end of the year remains stability and strict adherence to the plan for monetary policy.
The commentary is negative for the single currency suffered losses yesterday after the filing of Article 50.

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Negative sentiment to the EUR after a comment by Ewald Nowotny (ECB)

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