EUR/USD Endogenous inflation momentum not a factor putting pressure on Euro – Commerzbank EURUSD Inflation ECB Fed Banks
“What is more relevant is how endogenous inflation momentum develops . Because at present uncertainty about that is particularly high, that is decisive, not the ECB’s reaction function. And because that is the case the old difficulties of joint monetary policy for a heterogenous continent like Europe are less relevant at present. They are irrelevant compared with endogenous inflation momentum.”
“The fundamental disadvantage of the particular European monetary policy against that of the Fed plays a subordinate role and is therefore not a relevant factor putting pressure on EUR/USD. While that is the case, I am principally EUR-positive. However, we should not make the mistake of believing that this will always be the case.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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