ECB's Panetta: Protection of environment “secondary objective” in strategic review

Eren Sengezer FXStreet

Protection of the environment could be considered as a secondary objective as part of the European Central Bank's strategic review, new ECB executive board member Fabio Panetta said on Thursday. "The ECB will decide how to review its monetary policy at the end of the year," Panetta added.

At the ECB's press conference in January, "we are investigating how climate change considerations can be better integrated into ECB's own portfolio," ECB President Lagarde said. "Work is ongoing at the ECB to make sure climate risk embedded in risk assessment, models, forecasts."

EUR/USD reaction

These comments had no impact on the euro's market valuation. As of writing, the EUR/USD pair was down 0.27% on the day at 1.0842.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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