European Central Bank's (ECB) rate-setting committee member Olli Rehn stated a few minutes ago that it was important for the Bank of England to maintain its strong monetary stimulus. "This situation calls for an effective policy package in September," he added.
Two weeks ago, he announced that the Bank of England's Governing Council plans to respond to the situation if the medium-term inflation outlook falls below its target level and seek adjustment.
Data released by Eurostat today show the Consumer Price Index, which includes food and energy prices, remained unchanged at 0.9%, and also included lower market expectations of 1%. .
EURUSD is not responding to Rehn's words and is trading at 1.1043.