The European Central Bank (ECB) Governing Council member Martins Kazaks said on Wednesday, ‘we are committed to our target of 2% and we shall deliver it.”

“Our current outlook forecasts that we will achieve it in the second half of 2025. We are very clear on our target and of course we are determined and we shall reach it,” Kazaks added.

Market reaction

 EUR/USD is holding lower ground near 1.0660 despite the upbeat remarks from the ECB official. The pair is down 0.36% so far.