Boštjan Vasle, Governor of the Bank of Slovenia and member of the Governing Council of the European Central Bank (ECB), said on Friday that they cannot exclude future interest rate hikes, as the outcome depends on data. He added that they will have much more data available for the December meeting.

Regarding the purchase program, Vasle explained that reductions in the asset purchase program (APP) could be accelerated, as the current rate level "opens more space to discuss" quantitative tightening.

Market reaction

The EUR/USD is holding around 1.0650 after experiencing a sharp decline on Thursday following the ECB meeting. Despite keeping interest rates at record lows, the Euro tumbled as the ECB signaled the end of rate hikes.