“We monitor very carefully, the fx movements, don't target it,” she added.
Want to arrive at degree to clarity, predictability with definition of inflation target.
Need to better account for housing cost in inflation.
Large group in Governing Council keen to have entire strategy review agreed on in a single package.
Ahead of Lagarde’s speech, the Governing Council member and Bank of France Head Francois Villeroy de Galhau said: “We are closely following the negative effects of the euro exchange rate.”
EUR/USD remains below 1.2200
EUR/USD meanders near-daily lows of 1.2182, as markets digest Lagarde’s comments.
The spot was last seen trading at 1.2189, down 0.15% on the day.
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