ECB’s Šimkus: Inflation is on its way down

European Central Bank (ECB) Governing Council Gediminas Šimkus said on Tuesday, “Inflation is on its way down.”

Further comments

The prompt response of monetary policy was effective.

Inflation still faces many lines of resistance.

Market reaction

EUR/USD is lingering in YTD lows near 1.0460 on the above comments, down 0.08% on the day.