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- ECB’s Schnabel: QE may have weakened the transmission of monetary policy
ECB’s Schnabel: QE may have weakened the transmission of monetary policy
European Central Bank (ECB) policymaker Isabel Schnabel said on Tuesday that “QE may have weakened the transmission of monetary policy during the recent tightening cycle.”
“In a bank-based economy targeted longer-term refinancing operations can provide substantial support with a smaller footprint,” she added.
Market reaction
EUR/USD is trading 0.18% higher on the day at 1.0877, as of writing.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.17% | -0.08% | -0.13% | -0.10% | -0.24% | -0.21% | -0.18% | |
| EUR | 0.17% | 0.09% | 0.03% | 0.05% | -0.07% | -0.00% | -0.02% | |
| GBP | 0.08% | -0.09% | -0.04% | -0.03% | -0.14% | -0.09% | -0.11% | |
| JPY | 0.13% | -0.03% | 0.04% | 0.04% | -0.09% | -0.03% | -0.02% | |
| CAD | 0.10% | -0.05% | 0.03% | -0.04% | -0.14% | -0.07% | -0.08% | |
| AUD | 0.24% | 0.07% | 0.14% | 0.09% | 0.14% | 0.06% | 0.03% | |
| NZD | 0.21% | 0.00% | 0.09% | 0.03% | 0.07% | -0.06% | -0.01% | |
| CHF | 0.18% | 0.02% | 0.11% | 0.02% | 0.08% | -0.03% | 0.00% |
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
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