ECB's Rehn: Keeping inflation expectations anchored is essential

European Central Bank (ECB) official and Finnish Central Bank Governor Olli Rehn said in a written copy of a speech, released during the European trading session on Wednesday, that it is essential to keep inflation expectations anchored.

Global inflation projections have been de-anchored due to elevated energy prices amid squeezed supply in the wake of the United States (US)-Iran deadlock over the Strait of Hormuz.

Additional remarks

Sees no clear signs of second-round effects.

Wage growth, wage outlook remained moderate so far.

Market reaction

No major reaction is seen in the Euro (EUR) following remarks from ECB's Rehn. As of writing, EUR/USD trades 0.2% higher marginally below 1.1600.