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EUR Sees Late Volatility on Report ECB Officials Distrust Forecasts

  • EUR/USD sees short-lived spike higher, touching 1.1442 before paring as Bloomberg reports that more ECB officials are said to distrust inflation forecasts, which emboldens a shift toward tighter policy this year, according to sources.
  • The next forecasting round is due at March's meeting, at which sell-side analysts expect the governing council to thoroughly discuss a conclusion of their bond purchase programme as price pressures continue to mount across the Eurozone.
  • The new Bundesbank head Nagel spoke earlier Wednesday, flagging his expectation that Germany will see inflation "significantly" above 4% in 2022.
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