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Euro rises on discrepancy on interpretations of “summer of 2019”

Euro is lifted by reports that ECB policymakers are split over the timing of the first rate hike in years. ECB official communications said rates will remain at current level until through the summer of 2019. But the wordings are vague and subject to interpretation.

Reuters quoted one unnamed source saying that after September 21 is the “only possible interpretation”. That is, October 24 is the earliest date.

But another unnamed source said “you cannot tie yourself for more than a year”. And instead, the wordings could be interpreted as July 25 meeting for hike if data supports.

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