Bond purchases by the European Central Bank caused a 6.5 percent devaluation in the euro against the US dollar since 2014 till the end of last year, reports said Monday, citing a Bundesbank study.
However, the impact of asset purchases was small, the study added.
ECB President Mario Draghi has reiterated that exchange rate is not a monetary policy target, but was important for growth and inflation.
A weaker euro could help exporters, but also raise inflation via imports.
The material has been provided by InstaForex Company – www.instaforex.com
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