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“The European Central Bank’s (ECB) monetary policy must continue to support economic activity, for the sake of its own mandate of price stability,” ECB Governing Council member François Villeroy de Galhau said while delivering a speech in Berlin.

“In the short and medium term, the crisis will have disinflationary effects that are already noticeable,” Villeroy added, as reported by Reuters.

Market reaction

The shared currency showed no significant reaction to these remarks. As of writing, the EUR/USD pair was up 0.45% on a daily basis at 1.1855.