ECB’s Patsalides: If higher oil prices persist, inflation risks rise
The remarks from European Central Bank (ECB) policymaker and Governor of the Central Bank of Cyprus, Christodoulos Patsalides, released during the European trading session on Wednesday signal a warning of further acceleration in inflationary pressures if oil prices remain higher. Patsalides expresses ambiguity regarding the monetary policy outlook. “We don't know how September data will be,” Patsalides said.
Market reaction
No immediate impact was seen in the Euro (EUR) following remarks from ECB's Patsalides. At press time, EUR/USD trades marginally higher at around 1.1395.
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