ECB does not target the exchange rate, but it is an important variable

ECB does not target the exchange rate, but it is an important variable

The European Central Bank does not target the euro exchange rate in its policy, but it is an important variable and the bank monitors it when assessing the effects on price stability, European Central Bank vie president Luis de Guindos said.

De Guindos was answering a question on the appreciation of the euro exchange rate at a press conference after of European Union finance ministers in Berlin.

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