German government economic adviser Monika Schnitzer said on Tuesday that inflation in Germany has probably peaked amid falling global energy prices, as reported by Reuters.

Commenting on the European Central Bank's (ECB) policy outlook, "if nothing happens, there is no need for the ECB to raise the interest rate by more than 50 basis points in the next meeting," Schnitzer noted.

Market reaction

These comments don't seem to be having a noticeable impact on EUR/USD. As of writing, the pair was trading virtually unchanged on the day at 1.0728.