European Central Bank (ECB) policymaker Peter Kazimir said on Tuesday that the “monetary policy should tighten at a stable pace.”

On Monday, Kazimir noted that “strong action will be necessary in the first half of 2023.”

Also read: The European economy is likely to avoid a hard landing

Market reaction

The Euro cheers the hawkish commentary from the ECB policymakers, extending gains at around 1.0630, at the time of writing. The pair is up 0.26% on the day.