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ECB’s Kocher: Should be prepared to move rates quickly

Governor of the Österreichische Nationalbank and member of the European Central Bank (ECB), Martin Kocher, said that the ECB should be prepared to move interest rates quickly in either direction in a Wall Street Journal interview on Monday.

Key takeaways:

Should be prepared to move rates quickly in either direction.

A fresh increase in uncertainty since start of the year makes it possible that key rate will be lowered again.

Disruptions to oil markets or shipping through the Strait of Hormuz could increase costs and therefore inflation.

While policymakers will take account of currency moves, they won’t have a decisive impact on rate decisions.”

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.85% 0.49% 0.85% 0.23% 0.58% 0.86% 1.24%
EUR -0.85% -0.36% -0.02% -0.61% -0.26% 0.00% 0.38%
GBP -0.49% 0.36% 0.32% -0.26% 0.09% 0.36% 0.73%
JPY -0.85% 0.02% -0.32% -0.61% -0.26% 0.01% 0.39%
CAD -0.23% 0.61% 0.26% 0.61% 0.35% 0.62% 1.01%
AUD -0.58% 0.26% -0.09% 0.26% -0.35% 0.28% 0.59%
NZD -0.86% -0.01% -0.36% -0.01% -0.62% -0.28% 0.37%
CHF -1.24% -0.38% -0.73% -0.39% -1.01% -0.59% -0.37%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).


Euro area: Growth drag from higher Oil – Commerzbank

Commerzbank’s Senior Economist Dr. Vincent Stamer argues that the Oil-driven inflation rise will weigh on Euro area GDP this year, trimming growth by more than 0.1 percentage points.
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United States ISM Manufacturing Employment Index: 48.8 (February) vs 48.1

United States ISM Manufacturing Employment Index: 48.8 (February) vs 48.1
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