The ECB must not inflation fall too low, the ECB’s Constancio said today. Like Trichet, he expressed the need to keep inflation below but close to 2%. He said the Bank is data dependent.
Regarding the euro, Constancio said the news in the last 10 days has been very negative for the prospects of growth in Europe and that is reflected in the exchange rate.
EUR/USD is consolidating losses at1.2945.
