ECB Governing Council member Ignazio Visco said “the euro’s recent strengthening is worrying us because it generates further downward pressures on prices at a time when inflation is already low.”

“The monetary policy implications are obvious: if the downward pressures jeopardise our price stability objective, we’ll have to intervene,” he added. “If, however, opposite effects were to emerge, the measures we’ve already taken could suffice.”

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