ECB’s Makhlouf: Far too early to tell consequences of Middle East situation

European Central Bank (ECB) policymaker Gabriel Makhlouf said on Tuesday that it is “far too early to tell consequences of the Middle East situation.”

Additional comments

We are watching the developments very closely.

They are bound to have economic implications for us to some extent.

Don't want to jump to conclusions on extent of impact on economies, monetary policy.

Market reaction

EUR/USD is unfazed by the above comments, testing intraday lows near 1.0645. The pair is down 0.21% on the day, as of writing.