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European Central Bank (ECB) policymaker Robert Holzmann, who opposed the ECB’s decision to lower key interest rates by 25 basis points following the March meeting, asserted on Wednesday that there is no need for further accommodative measures.
“We had assumed inflation would come down,” Holzmann stated. “As we are neutral and inflation is converging to target, there is no reason to become accommodative.”
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Market Reaction
Despite his comments, there was little noticeable impact on the Euro’s performance against major currencies. At the time of writing, EUR/USD had risen by 0.25% to 1.0820.
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