ECB’s Villeroy: Too early to speculate about what we will do in March

European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Wednesday, it’s “too early to speculate about what we will do in March.”

Additional quotes

We must stay the course in battle against inflation.

Cannot say where the terminal rate will be but should be there by the summer.

ECB is pragmatic regarding rates and policy.

The pace of rate hikes is probably less important this year.

Lagarde’s earlier 50 bps guidance is still valid.

Market reaction

EUR/USD is extending the renewed uptick toward 1.0850 on the above comments, adding 0.54% on the day.