ECB's Vujcic: The Bank's rate hike cycle is over for now

The European Central Bank (ECB) Governing Council member and Governor of the Croatian National Bank, Boris Vujčić, stated on Sunday with Croatian state broadcaster HRT1 in a TV interview that The ‘rate hikes over’ news is not surprising and it has been the anticipation for weeks. Vujčić further stated that he’s confident inflation will hit the ECB target by 2025.

Key quotes

“We have finished with the process of raising interest rates for now”

“At this moment we see that inflation is falling, we have a disinflation process. And after we conducted a series of measures to dampen lending, it has fallen.”

Market reaction

The comments above has little to no impact on the Euro. At the time of writing, EUR/USD is trading near 1.0563, holding lower while losing 0.02% on the day