“I’m inclined to say we maybe need to do a little bit more,” said the Belgian Central Bank Governor and European Central Bank (ECB) Governing Council member Pierre Wunsch on Saturday, via a radio interview shared by Bloomberg.

The policymaker initially cited the dissipating price pressures before saying that the ECB's 2% target rate won't be hit before 2025 due to persistent inflation.

ECB’s Wunsch also defended the market’s idea that the ECB will have to pause at a certain point while adding, “it's too early to talk about stopping hiking completely.”

EUR/USD remains depressed

EUR/USD holds lower grounds near 1.0775 after a seven-week downtrend, despite lacking downside momentum of late.

Also read: EUR/USD: US holiday to restrict Euro moves, further downside hinges on 1.0750 break and ECB’s Lagarde