- We’ll use whatever instrument is appropriate
- No one argued for a 50 basis point cut
- A number of governors a few weeks ago would have argued to skip a rate cut
- We will determine our monetary policy stance based on what is appropriate
- We are not targeting any exchange rate
The euro has bounced back on broad US dollar selling. It’s trimmed today’s decline by about 25 pips though is still down 30 pips on the day.
This article was written by Adam Button at www.forexlive.com.
