ECB’s Kazaks: Too soon to say that terminal rate has been reached

The European Central Bank (ECB) Governing Council member Martins Kazaks said on Monday, it is ‘too soon to say that terminal rate has been reached.”

Further comments

Sees risk of spillover into inflation.

No clear peak of wage growth seen yet.

There is no "automaticity" regarding the next rate move.

Market reaction

 EUR/USD is holding lower ground near 1.0675, shrugging off the upbeat remarks from the ECB official.