In an interview with the Financial Times (FT), European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Wednesday, “there’s still some way to go, but we are approaching restrictive territory.”

Additional quotes

“Our fight against inflation is not over.”

“There’s certainly no mistaking that price pressures are strong and broad-based across the economy.”

“If we are to tame this stubborn inflation, we will have to be even more stubborn.”

“We are not facing a repeat of the financial crisis we saw in 2008. We can manage this.”

“Those who profit from opportunities should also take their share when risks materialize. This was one of the takeaways from the global financial crisis.”

“I still envision a soft landing in Germany, Eurozone.”

Market reaction

The above comments fail to move a needle around the Euro, as EUR/USD keeps its range trade at around 1.0770.