Villeroy in Boersen Zeitung

  • Eurozone still needs an accommodative monetary policy but can gradually reduce intensity of mon pol support
  • Recent euro increase requires monitoring because of its downward effects on the prices of imported goods
  • Confident ECB can manage a smooth exit from ultra-loose policies
  • Eurozone has not yet reached its inflation target and not in a self-sustaining way

Lows of the day for the euro on the headlines. A bit of caution and a bit of jawboning.