Officials consider the exchange rate as one element “to project inflation dynamics,” the Italian policymaker said, according to a transcript posted on the ECB’s website on Sunday. At the same time, Cipollone highlighted that the ECB doesn’t have a specific target for the common currency, and that it’s been bunching around $1.17-$1.18 for almost a year now. ECB officials last week kept borrowing costs unchanged for a fifth meeting, with President Christine Lagarde repeating that they see themselves in a “good place,” and playing down the euro’s rise.
Brought to you by Yahoo! Finance