ECB's Stournaras says "we are monitoring exchange rates"; have strong confidence in the economic outlook
Importance
Level 1
- ECB is monitoring the FX rate, but euro increase has not been dramatic.
- FX rate levels are not a primary focus.
- January inflation data should be viewed in context.
- Meeting-by-meeting approach has been good practice.
- Judges that risks are balanced.
- Do not think we have to take any action now.
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