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The European Central Bank’s (ECB) monetary policy will be adjusted across time and jurisdictions to ensure proper transmission, ECB Governing Council member Ignazio Visco told Bloomberg TV on Friday.

“The first response to the crisis is the role of governments,” Visco added. “If needed, there will be more actions and more words. The widening of spreads makes transmission of policy more difficult.”

EUR/USD reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1160, erasing 0.2% on the day.

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