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In an interview with Boersen Zeitung, Luis de Guindos, Vice-President of the European Central Bank, acknowledged that inflation expectations have recently shown a marked decline but added that they have not yet become ‘de-anchored.’

“We are well aware of side effects of our monetary policy, will hold side effects up to even closer scrutiny in future,” De Guinods further noted. ”  Adopting the September policy package was and remains absolutely right decision.”

The EUR/USD pair largely ignored these comments and was last down 0.1% on the day at 1.1020.