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European Central Bank (ECB) Governing Council member Olli Rehn said on Wednesday that inflation expectations in the euro area are, regrettably, anchored at too low levels, as reported by Reuters.

“The ECB needs a clearly and genuinely symmetric price stability target and a reaction function that is sufficiently forceful and equally effective in reacting to deviations in both directions,” Rehn added.

Market reaction

These comments had little to no impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was up 0.15% on a daily basis at 1.1763.