ECBs Nagel: Interest rates should rise further

ECBs Nagel is on the wires saying:

• Interest rates should rise further
• He could've imagined a 50 basis point Basis point A basis point is a unit of measurement used to express the change in value of a financial instrument, such as a bond or a loan. One basis point is equal to 0.01%, or one one-hundredth of a percentage point. For example, if the interest rate on a bond increases from 5% to 5.25%, that is an increase of 25 basis points. It is often used in the context of interest rates, yield, and credit spreads. The short-hand for a basis point is bps and on a trading floor you will hear them referred to as ' A basis point is a unit of measurement used to express the change in value of a financial instrument, such as a bond or a loan. One basis point is equal to 0.01%, or one one-hundredth of a percentage point. For example, if the interest rate on a bond increases from 5% to 5.25%, that is an increase of 25 basis points. It is often used in the context of interest rates, yield, and credit spreads. The short-hand for a basis point is bps and on a trading floor you will hear them referred to as ' Read this Term hike at the last meeting but is okay with the 25
• Will address at G7 talks need for new global precautions to offer banks some protection if affected by rumors of distress
• The market is not always right about the ECB's terminal rate

The comments are slowing the declines in the EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term. The price is trading at 1.0964 after dipping to 1.0957 and below the 50% midpoint of the April trading range at 1.09632. Buyers and sellers are battling around the key midpoint level.

Early today ECBs Kazimir said:

• Slowing hikes lets the ECB to go higher for longer.
• There’s plenty of ground left to cover.
• Core inflation, wage pressures and high-profit margins call for vigilance.

ECB's Vulcic said:

• More hikes will be required to return inflation to target

ECBs Kazaks said:

• Ray taking may not be finished in July
• Doing too little remains the greater danger
• Not impossible for the ECB to hike/pause in the scenario Fed is cutting (the Fed members do not expect to cut although the market still feels they will).