“The depreciation of the euro has been one of the factors of high inflation“, said the vice-president of the European Central Bank (ECB), Luis de Guindosduring an interview with local outlet Postimees late on Thursday.
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At the ECB we do not have the exchange rate as our objective. But it is a very important macroeconomic indicator that we take into account when making our projections.
The main factor that will guide our decisions will be the evolution of inflation.
The recent projections of the European Commission clearly show a slowdown in growth, while inflation is expected to remain high in the coming months.
We expect countries and governments to implement the correct fiscal and structural policies in accordance with the EU recovery plan.
EUR/USD holds firm
The EUR/USD remains firm, trading Friday’s European open above 1.0251, gaining 0.53% daily. The pair has reached a four-day high at 1.0254 late in the Asian session.
Source: Fx Street
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