While speaking at the Reuters Global Market Forum on Thursday, European Central Bank (ECB) Governing Council member Pierre Wunsch said that he can't conclude yet that they have reached the terminal rate.

"Whether we need to do more or not is a very difficult question," Wunsch noted and added they have greater confidence that projections can be used as an anchor.

Market reaction

EUR/USD edged slightly higher following these comments and the pair was last seen trading virtually unchanged on the day at 1.0660.