Exchange rate important for growth and price stability – ECB’s Coeure

FXStreet (Mumbai) - The European Central Bank (ECB) member Benoit Coeure, in his speech in Zurich, said on Wednesday that the ECB policy does not target a specific exchange rate level, however, the exchange rate does play an important rose in growth and price stability.

He added that financial stability risks from the ECB’s policies are contained, while stating that the move in the EUR is not unprecedented in the context of the QE program. Coeure stated that global exchange rate moves are a by-product of diverging monetary policies.