European Central Bank (ECB) policymaker Olli Rehn addressed concerns over U.S. tariffs and the importance of central bank independence on Thursday.
Rehn expressed hope that the Trump administration would respect the autonomy of central banks, emphasizing that economic stability relies on their independence. He also urged the European Union (EU) to pursue diplomatic solutions regarding U.S. tariffs, cautioning against measures he described as “unnecessary and harmful.”
Earlier this week, Rehn warned that U.S. tariffs could reduce global economic output by more than 0.5% in both this year and the next, highlighting the potential economic risks.
Market Reaction
At the time of writing, the EUR/USD pair remains under pressure, trading around 1.0880, down 0.07% on the day.
Related topics:
- What are the types of foreign exchange rates
- How to use leverage to profit in forex day trading?
- What is the designated foreign exchange bank and its business
