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ECB Executive Board member Fabio Panetta said the December rate increase was based on projections that inflation would stay above target until mid-2025, and that a similar step was reasonable in February. He argued against unconditional forward guidance beyond February, favouring a data-driven approach.
Data-dependent ECB guidance keeps euro interest rate expectations volatile, which feeds through to currency moves that affect dollar-denominated feed commodity prices.
ecb.europa.euEuropean Central BankJan 24, 2023After 1,108 past macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (46% higher; middle half -0.7% to +0.6%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
