ECB’s Kazimir: We should be wary of premature tightening

Slovak central bank Governor and European Central Bank governing council member Peter Kazimir crossed the wires in the last hour, saying that we should be wary of premature tightening.

Additional quotes:

• Medium to long term inflation risks skewed to the upside
• APP will be the key instrument in the future
• Important we do not tinker with the APP.
• We should not overcomplicate things with new envelopes or instruments.
• We should not make too long commitments on asset purchases.
• The current calibration of purchases is a good baseline for potential downside or upside deviations we may decide in the future.

Market reaction:

The comments did little to provide any meaningful impetus to the shared currency or lend any support to the EUR/USD pair, which was last seen hovering near a one-week low.