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The European Central Bank (ECB) announced that it has launched a review of its monetary strategy. “Review will encompass quantitative formulation of price stability, monetary policy toolkit, economic and monetary analyses and communication practices,” the ECB said in a press release.

“Other considerations, such as financial stability, employment and environmental sustainability, will also be part of review,” the statement read. “Expected to be concluded by end of 2020. Review will be based on thorough analysis and open minds, engaging with all stakeholders.”

Market reaction

The EUR/USD pair, which came under renewed bearish pressure during ECB President Lagarde’s press conference, ignored this statement and was last down 0.22% on the day at 1.1065.