European Central Bank (ECB) Governing Council member and Bank of France President, Francois Villeroy de Galhau, said on Friday that there are “several reasons as to why we should not wait too long before first rate cut.”
Additional quotes
There is still the question of the exact timing for the rate cut.
The principle of a rate cut this year seems to be a given.
We have significant margin to maneuver on rate cuts without necessarily having to return to accommodative monetary policy.
Market reaction
EUR/USD is flirting with intraday lows near 1.0760 on the above comments, down 0.09% on the day.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.12% | 0.11% | 0.12% | 0.11% | 0.20% | 0.18% | 0.14% | |
| EUR | -0.12% | -0.02% | 0.00% | -0.01% | 0.09% | 0.07% | 0.02% | |
| GBP | -0.12% | 0.00% | 0.01% | -0.01% | 0.09% | 0.07% | 0.02% | |
| CAD | -0.12% | -0.01% | -0.01% | 0.00% | 0.08% | 0.06% | 0.02% | |
| AUD | -0.11% | 0.03% | 0.02% | 0.02% | 0.11% | 0.09% | 0.04% | |
| JPY | -0.21% | -0.08% | -0.09% | -0.10% | -0.12% | -0.01% | -0.06% | |
| NZD | -0.19% | -0.06% | -0.07% | -0.05% | -0.07% | 0.02% | -0.05% | |
| CHF | -0.15% | -0.01% | -0.02% | -0.01% | -0.02% | 0.07% | 0.05% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Source: https://www.fxstreet.com/news/ecbs-villeroy-several-reasons-why-we-should-not-wait-too-long-before-first-rate-cut-202402160512