European Central Bank (ECB) should not unconditionally pre-commit to future policy moves,” the central bank’s executive board member Fabio Panetta said on Thursday.

Additional quotes

“Extent and duration of monetary policy restriction matters now that rates are in the restrictive territory.”

“Headline inflation may fall below 3% towards the end of the year.”

“Core inflation cannot turn on a dime, will eventually follow headline inflation.”

“Wages are an upside risk, accelerating wage growth raises the specter of wage-price spiral.”

Market reaction

The above comments fail to have any impact on the Euro, as EUR/USD continues to consolidate gains just above the 1.0700 level.

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