European Central Bank (ECB) board member Frank Elderson said in an interview with Market News International on Wednesday, interest rates could still go higher, if necessary.
Key quotes
“Does that mean policy rates have peaked? Not necessarily.”
“What we’re seeing is a more protracted period of sluggish growth than we were expecting.”
“It’s also true that our primary mandate is to deliver price stability, and I think we have proven we are very determined to do that.”
Market reaction
At the press time, EUR/USD is trading flat at around 1.0570, reversing losses amid an upbeat mood and a pause in the US Dollar uptrend.
Source: https://www.fxstreet.com/news/ecbs-elderson-policy-rates-have-not-necessarily-peaked-202309270739