ECB’s Makhlouf: Do not think we're in restrictive monetary policy rate territory now

European Central Bank (ECB) Governing Council member Gabriel Makhlouf said on Monday, “I do not think we're in restrictive monetary policy rate territory now.”

Additional quotes

“Anticipates that 50 basis point rise is where we’ll end up.”

“We haven’t reached the stage that we’re confident we have inflation under control.”

“Anticipates that there will be further interest rate increases in the new year.”

Market reaction

EUR/USD is drawing support from the latest hawkish remarks from the ECB policymaker. The pair was last seen trading up 0.16% on the day at 1.0555.