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European Central Bank officials warn that a stronger euro could pose risks.
Jin10 data reported on July 3rd that according to the minutes of the European Central Bank's June meeting, officials emphasized the potential dangers posed by the appreciation of the euro for exporters. At that meeting, the European Central Bank implemented its eighth interest rate cut. The minutes show that the European Central Bank believes that trade uncertainty has cast a shadow over the economic outlook for the 20 countries in the eurozone, particularly regarding investment. "Higher tariffs and the recent appreciation of the euro should put pressure on exports," the minutes stated. This remark highlights that, despite the nearly 14% rise of the euro this year helping to curb inflation, further increases could pull inflation below the 2% target and harm the competitiveness of companies selling products overseas. European Central Bank Vice President Guindos previously stated that a rise of the euro to 1.20 against the dollar would be "very troublesome" for the European Central Bank.