ECB council worries about euro’s strength, though recovery continues
Minutes of July’s monetary policy meeting suggest low inflation warrants loose policy
Members of the governing council of the European Central Bank (ECB) expressed concern about the euro’s strength and low inflation, a combination that, in their view, still requires policy accommodation, minutes of the monetary policy meeting on July 19–20 reveal.
The single currency dropped to $1.172:€1 on August 17 from $1.176 the day before, as investors may anticipate an extension of the ECB’s €60 billion-a-month ($70.4 billion) asset purchase programme. The governing council decided in July
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