ECB’s Rehn: Started discussion about reducing the restrictive dimension of monetary policy
European Central Bank (ECB) policymaker Olli Rehn spoke about the central bank’s interest rate outlook on Friday.
Key quotes
Started discussion about reducing the restrictive dimension of monetary policy.
Talk relates to when it is appropriate to start cutting interest rates.
If inflation continues to fall, can slowly start easing the foot off the brake pedal of monetary policy.
Market reaction
EUR/USD is keeping its gradual advance intact, despite the dovish comments, adding 0.13% on the day to currently trade at 1.0895.
Euro price this week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the weakest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.45% | 0.82% | 0.35% | 0.91% | 1.32% | 1.36% | 0.64% | |
| EUR | -0.45% | 0.38% | -0.11% | 0.46% | 0.86% | 0.91% | 0.21% | |
| GBP | -0.83% | -0.38% | -0.48% | 0.09% | 0.50% | 0.54% | -0.18% | |
| CAD | -0.33% | 0.10% | 0.48% | 0.57% | 0.97% | 1.00% | 0.30% | |
| AUD | -0.91% | -0.46% | -0.09% | -0.56% | 0.42% | 0.46% | -0.27% | |
| JPY | -1.30% | -0.86% | -0.25% | -0.96% | -0.39% | 0.06% | -0.67% | |
| NZD | -1.36% | -0.90% | -0.54% | -1.03% | -0.45% | -0.04% | -0.71% | |
| CHF | -0.64% | -0.20% | 0.19% | -0.29% | 0.27% | 0.66% | 0.71% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).