ECB's Makhlouf: Overwhelming evidence needed to consider a 50 bps cut in December
|European Central Bank (ECB) Governing Council member and Central Bank of Ireland Governor Gabriel Makhlouf said on Monday that overwhelming evidence would be needed to consider a 50 basis points rate cut in December, pre Reuters.
Key takeaways
"I believe in cautious and prudent approach, believe the policy is working."
"We are going meeting by meeting."
"Let's see what data tells us; but reasonable to assume we are on a downward trajectory."
"Would be premature to start making decisions on what new US administration might do."
"I am confident we will meet our target next year, all of us should chill out a bit on whether it will be Q1, Q2 or even Q3."
Market reaction
EUR/USD showed no reaction to these comments and the pair was last seen trading virtually unchanged on the day at 1.0540.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.