European Central Bank (ECB) policymaker Francois Villeroy de Galhau said Wednesday, the central bank will do what it takes to get inflation back to the 2% level.
Additional quotes
“French economic growth is good, not affected by omicron.”
“Nevertheless, there is too much inflation.”
“There is no longer any justification for "whatever it takes" debt support measures to tackle covid crisis.”
Market reaction
EUR/USD is keeping its range play intact around 1.1330, unfazed by these comments, trading modestly flat on the day.
It’s worth mentioning that the German 10-year bond yields have risen above 0% for the first time since May 2019. This could help cushion the downside in the euro.