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The key target of the European Central Bank’s (ECB) monetary policy is inflation, noted the ECB  Governing Council member and Slovak central bank chief Peter Kazimir on Friday. “Its side effect is the monetary policy that supports growth and that is not going to change in coming months,” Kazimir added.  

The EUR/USD pair largely ignored these remarks and was last seen trading at 1.1058, where it was virtually unchanged on a daily basis.

Commenting on the ECB’s policy review, “would be normal to wait while changes on board and council are completed,” Kazimir said. “Based on meetings with business representatives, I am cautiously optimistic on economic outlook but will not predict hard data.”