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ECB official Kocher says the bank is ready to act if needed

Kocher reiterated the ECB’s goal of achieving the 2% inflation target over the medium term, while noting no secondary effects are observed at present.

Reported · Written up by our desk · Central Banks

FXStreet reports that ECB Governing Council member Martin Kocher said the central bank is prepared to implement monetary policy measures whenever necessary.

Kocher also reiterated that the ECB will take the steps needed to achieve its 2% inflation target in the medium term, while stating that no secondary effects are observed at present.

FXStreet adds that the remarks keep the door open to further tightening if conditions warrant, though the “no secondary effects” comment suggests there is no immediate impetus to change the current policy stance.

For the euro, the statement implies a steady-to-firm bias rather than an immediate catalyst, according to FXStreet.

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