ECB’s Muller: Rate hikes to date are clearly having an effect

European Central Bank (ECB) policymaker Madis Muller said on Friday, “rate hikes to date are clearly having an effect.”

Further comments

The near-term GDP outlook is worse than a few months ago.

At the current rate level, ecb decisions are no longer obvious.

Market reaction

EUR/USD is little changed on the above comments, keeping its range near 1.0970 at the press time.