ECB's Constancio: Other actors need to play their part

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Monday, May 09 2016

Speaking at the International Financials services event in London ECB member Constanico said that besides the ECB's determination to pursue its expansionary policies, other actors need to do their part. Uncertainties remain and further bouts of volatility cannot be precluded. ECB will continue to do what is necessary to achieve its goal of reaching a level of inflation close to 2% and enough policy tools can still be used, he said.

We have to allow some time for the package of measures adopted in March to produce its effects. ECB will also monitor external developments closely and Constancio expects recovery in global economy to gather momentum as headwinds dissipate but there are many factors which could potentially derail it. With that in mind the Eurozone recovery is subject to fragilities.

Euro is currently being traded few points below 1.14 level. Pair is likely to find support around 1.1380 handle and resistance above 1.1450 level. There will be no data releases later today.

More in this category: « UK house price 1.5% higher in the three months to April China's CPI rose by 2.3% »

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