ECB’s Kazimir: ECB should sit out the summer, not rush into another rate cut

European Central Bank (ECB) policymaker and Slovakian central bank Governor Peter Kazimir said Monday, the central bank “should not rush into another rate cut,” adding that the ECB “should sit out the summer.“

Additional comments

Sept will be pivotal month as lot of new data are published by then.

Inflation beast not yet broken, price pressures can resurface.

Disinflation will be bumpy but confident ECB moving towards target.

Market reaction

The Euro fails to find any impetus from the ECB official’s comments, keeping EUR/USD 0.38% lower on the day at 1.0758 due to renewed Euro area political tensions.