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Foreign exchange: ECB easing monetary policy weighs on the euro | News

Thursday, December 14th, 2017 | bitcoin updates

NEW YORK (dpa-AFX) – The continuation of loose monetary policy by the European Central Bank (ECB) has also weighed on the euro exchange rate on Thursday in US trade. The common currency was last traded at $ 1,1792. In European trade, the euro had traded appreciably above $ 1.18. The ECB set the reference rate at 1.1845 (Wednesday: 1.1736) dollars. The dollar cost 0.8442 (0.8521) euros. The ECB had signaled on Thursday a continuation of their loose monetary policy. It justifies this with the very weak inflation in the currency area. Although the central bank is more confident about further price developments. According to President Mario Draghi, however, "broad support" through monetary policy remains necessary. According to traders, the statement weighed on the euro. With a zero interest rate and skids on bonds, the ECB is currently trying to push inflation up. Although bond issues are halved to 30 billion euros per month in January, they are expected to continue until at least September 2018. economists expect loose monetary policy to continue. "A complete halt to the bond market is out of the question, as long as the inflation rate is not close to ECB targets," commented Thomas Gitzel, chief economist at VP Bank. "A different approach would mean that Mario Draghi throws the gun into the grain." Since a rapid increase in inflation rates is not to be expected, the monetary authorities would stick to their very loose policy for a long time. The Turkish lira has come under pressure for all important currencies. The Turkish central bank has raised its key interest rate less than expected. It raised the lombard rate by another 0.5 percentage points to 12.75 percent. An increase to 13.25 percent was expected


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