Draghi: Euro’s Level in Alignment with Monetary Policies
The euro’s depreciation is in line with the divergence of monetary policies around the world, European Central Bank President Mario Draghi said.
“The exchange-rate movement reflects the different path of monetary policies in Europe versus the monetary policies in other important countries,” Draghi said in an interview with Europe 1 Radio published on the ECB’s website today.
The euro has dropped 6 percent against the dollar since early June, when the ECB announced stimulus measures including interest-rate cuts and targeted longer-term loans for banks, and is trading near the lowest level in more than a year.
“We have a mandate and we have to comply with this,” Draghi said. “We’ll do everything that is needed within our mandate.”
Source: Bloomberg- Draghi: Euro’s Level in Alignment with Monetary Policies
