Testimony and Brussels continues...
- symmetry of inflation gold to be topic and ECB review
- when asked when inflation would move to the 2% target, she replied as soon as possible
- fighting climate change has to be a central part of policy, but mandate of ECB is price stability
- suggest the issue symmetry will be a topic of discussion in the upcoming policy review
- ECB is determined to use all available tools
- If there is dissent on the ECB board, there will need to be a healthy and efficient way to deal with it
So far, the comments are cautionary. The new ECB Pres. has a stressed that she is still learning about the workings of the ECB and even German. The EURUSD remains supportive and trades at new session highs as the dollar weakens overall. The greenback is trading at low levels verse the EUR, CHF, AUD and NZD as I type.
