ECB's Nagel: ECB rates are not yet restrictive

Market news

7 February 2023

ECB's Nagel: ECB rates are not yet restrictive

European Central Bank (ECB) policymaker Joachim Nagel said on Tuesday that ECB rate cuts are not on the agenda in the foreseeable future and noted that ECB rates are not yet restrictive.

"A timely chat is needed on how far to lift QR caps after June," Nagel added and reiterated that they need "further, significant" rate hikes.

Market reaction

The Euro struggles to capitalize on the these hawkish comments. As of writing, the EUR/USD pair was trading at 1.0692, losing 0.35% on a daily basis.

Currencies. Daily history for Tuesday, February 7, 2023

Commodities. Daily history for Monday, February 6, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.