European Central Bank (ECB) policymaker Robert Holzmann told The Financial Times on Friday that the monetary policy is on a good trajectory, per Reuters.

Holzmann further noted that October might not be the right time for another rate cut but added that there could be room for a reduction in rates in December. "The uncertainty is now significantly smaller," he said and explained that the economic activity is increasingly in line with the ECB's forecasts.

Market reaction

These comments failed to trigger a noticeable market reaction. At the time of press, EUR/USD was trading at 1.1090, where it was up 0.12% on a daily basis.