More comments being reported by Reuters from the European Central Bank's council member and Belgian central bank governor Jan Smets following a brief talk earlier with Bloomberg reporters.

Key quotes:

  • "Foreign exchange rates are a point of attention. The volatility on the foreign exchange markets remains a point of attention"
  • "Only if, as we said last time after our monetary policy meeting in Frankfurt, this volatility becomes excessive, when certain levels are breached because of overshooting, because of a devaluation policy to increase competitiveness, can problems occur."
  • "A priori the (inflation) target is not aided by the appreciation of the euro,"

 

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