ECB's Kazimir: Revamped strategy says we will not allow inflation to be entrenched

In a Twitter thread on Monday, "low inflation has become entrenched over the past few years and our revamped strategy says that we will not allow this to happen in the future," European Central Bank (ECB) Governing Council member Peter Kazimir said.

"The policy objective is clear and simple. This clarity will strengthen our toolbox and enhance anchoring of inflation expectations as desired," Kazimir added.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was down 0.15% on a daily basis at 1.1855.