The newly appointed ECB member and the Bank of Finland governor Olli Rehn was out on the wires in the last hour, commenting on the recent hot topic – escalating trade tensions.
“¢ Urges the US to cease the trade war rhetoric.
“¢ Says that the ECB is certainly not manipulating the Euro.
“¢ Adds that China’s currency is weaker because of trade war threat.
“¢ Says that US exit from WTO would damage international order.
“¢ ECB policy stance will stay expansionary.
“¢ Markets are reading the ECB rate guidance correctly.
“¢ It’s too early to discuss Draghi’s succession.
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