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Italy’s Draghi: ECB hikes bound to be more gradual than in US

Mohamed Abdelhamid 16 June, 2022 9:19 pm Forex Market, Market Update

“The European Central Bank’s (ECB) decision to hike the interest rate is inevitable”, Italian Prime Minister Mario Draghi said on Thursday.

“ECB interest rise is bound to be more gradual than in the US,” Draghi added and said that it was totally counterproductive for politicians to comment on the ECB’s policy.

As for the market’s reaction, the Euro continues to outperform its rivals on Thursday and the EUR/USD pair was last seen trading at its highest level in nearly a week at 1.0550, rising more than 1% on a daily basis.

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