ECB’s Weidmann: New policy will not try to make up for lost inflation

Dhwani Mehta FXStreet

The European Central Bank (ECB) Governing Council member and German central bank chief Jens Weidmann said on Friday, “We are not aiming for inflation either above or below 2% target; that is important to me.”

Additional comments

‘Temporary deviations from the target can occur but we don't make policy contingent on targets not met in the past.”

“Correct for ECB to consider climate change risks.”

“Will not make policy contingent on past, strategy is forward-looking.”

“The ECB will not strive for higher or lower inflation rates.”

Market reaction

EUR/USD is currently trading at 1.1835, little changed on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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