{"id":51113,"date":"2026-03-05T15:03:10","date_gmt":"2026-03-05T15:03:10","guid":{"rendered":"https:\/\/xlence-com.wp-dev.int.theitops.net\/news-analysis\/ecbs-vujcic-market-valuations-are-stretched\/"},"modified":"2026-03-05T15:03:10","modified_gmt":"2026-03-05T15:03:10","slug":"ecbs-vujcic-market-valuations-are-stretched","status":"publish","type":"news_analysis","link":"https:\/\/www.xlence.com\/ko\/news-analysis\/ecbs-vujcic-market-valuations-are-stretched\/","title":{"rendered":"ECB\u2019s Vuj\u010di\u0107: Market valuations are stretched"},"content":{"rendered":"<p>European Central Bank (ECB) policymaker Boris Vuj\u010di\u0107 said on Tuesday that risks are balanced around inflation, per Reuters.<\/p>\n<h2 class=\"fxs_headline_from_medium_to_large\">Key takeaways<\/h2>\n<p>&#8220;Economically we are in a good place.&#8221;<\/p>\n<p>&#8220;We have had slightly higher growth and inflation than forecast.&#8221;<\/p>\n<p>&#8220;Frontloading of tariffs is still unwinding.&#8221;<\/p>\n<p>&#8220;Consumers are still very cautious in Europe, hard to understand why.&#8221;<\/p>\n<p>&#8220;Market valuations are stretched.&#8221;<\/p>\n<p>&#8220;I am a bit concerned that retail participation in stock markets is growing faster than hedge funds.&#8221;<\/p>\n<h2 class=\"fxs_headline_from_medium_to_large\">Market reaction<\/h2>\n<p>EUR\/USD showed no immediate reaction to these comments and was last seen trading virtually unchanged on the day at 1.1555.<\/p>\n<div class=\"post-module\">\n<div id=\"content-module-faq-Forex-ecb-165\" data-type=\"faq\" data-module=\"faq\" data-config-topic=\"ecb\" data-config-category=\"Forex\" data-version=\"v1\" data-content-module-translate=\"0\">\n<div class=\"fxs-faq-module-wrapper\">\n<h2 class=\"fxs-faq-module-title\">ECB FAQs<\/h2>\n<div class=\"fxs-faq-module-container\"><input id=\"content-module-faq-Forex-ecb-165accordion0\" checked type=\"checkbox\"><\/p>\n<section class=\"fxs-faq-module-section\">\n<h3 class=\"fxs-faq-module-header\"><label for=\"content-module-faq-Forex-ecb-165accordion0\"><br \/>\nWhat is the ECB and how does it influence the Euro?<br \/>\n<\/label><\/h3>\n<p class=\"fxs-faq-module-content\">The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region.<br \/>\nThe ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa.<br \/>\nThe ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.    <\/p>\n<\/section>\n<p><input id=\"content-module-faq-Forex-ecb-165accordion1\" type=\"checkbox\"><\/p>\n<section class=\"fxs-faq-module-section\">\n<h3 class=\"fxs-faq-module-header\"><label for=\"content-module-faq-Forex-ecb-165accordion1\"><br \/>\nWhat is Quantitative Easing (QE) and how does it affect the Euro?<br \/>\n<\/label><\/h3>\n<p class=\"fxs-faq-module-content\">In extreme situations, the European Central Bank can enact a policy tool called Quantitative Easing. QE is the process by which the ECB prints Euros and uses them to buy assets \u2013 usually government or corporate bonds \u2013 from banks and other financial institutions. QE usually results in a weaker Euro.<br \/>\nQE is a last resort when simply lowering interest rates is unlikely to achieve the objective of price stability. The ECB used it during the Great Financial Crisis in 2009-11, in 2015 when inflation remained stubbornly low, as well as during the covid pandemic.   <\/p>\n<\/section>\n<p><input id=\"content-module-faq-Forex-ecb-165accordion2\" type=\"checkbox\"><\/p>\n<section class=\"fxs-faq-module-section\">\n<h3 class=\"fxs-faq-module-header\"><label for=\"content-module-faq-Forex-ecb-165accordion2\"><br \/>\nWhat is Quantitative tightening (QT) and how does it affect the Euro?<br \/>\n<\/label><\/h3>\n<p class=\"fxs-faq-module-content\">Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the European Central Bank (ECB) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the ECB stops buying more bonds, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive (or bullish) for the Euro.   <\/p>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>European Central Bank (ECB) policymaker Boris Vuj\u010di\u0107 said on Tuesday that risks are balanced around inflation, per Reuters.<\/p>\n","protected":false},"author":2,"featured_media":51114,"template":"","news_category":[179],"class_list":["post-51113","news_analysis","type-news_analysis","status-publish","has-post-thumbnail","hentry","news_category-latest-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ECB\u2019s Vuj\u010di\u0107: Market Valuations Are Stretched<\/title>\n<meta name=\"description\" content=\"ECB\u2019s Vuj\u010di\u0107 says market valuations are stretched, noting balanced inflation risks and rising retail participation in stocks.\" \/>\n<meta name=\"robots\" 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