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The European Central Bank (ECB) policymakers had “heated discussions” last week on possibly changing the inflation target, ECB Governing Council member and head of the Austrian Central Bank, Robert Holzmann, said during an investment conference on Wednesday.

“Is our monetary policy target – (inflation of) just under 2% – where it should be? Should it be less, should it be more? Should it be symmetrical? Should it be asymmetrical? … We had heated discussions about that last week in the (Governing) Council,” Holzmann explained, as reported by Reuters.

EUR/USD reaction

The EUR/USD pair, which extended its recovery to 1.0900 earlier in the day, was last seen posting small daily losses at 1.0878.