ECB's Liikanen: Reiterates Council view that ECB takes exchange rate into account in policy decisions
- Analyze all factors with impact on monetary policy
**Reminder: On Mar 13th ECB chief Draghi stated that FX rate was now becoming more relevant in assessing price stability
- On Mar 6th at the ECB monthly press conference chief Draghi stated that forex developments muted inflation by 0.4-0.5% since 2012. Rule of thumb stated 10% change in exchange rate effected inflation by 0.4-0.5%
- On Mar 6th at the ECB post rate decision press conference ECB chief Draghi stated Euro exchange rate was important for growth and inflation, but ECB had no FX policy target.