‘Euro rate important for ECB policy’

The European Central Bank may ease its policy further if the euro gains strength, said ECB executive board member Benoît Coeuré.

While the Frankfurt-based central bank doesn’t have an exchange rate target, “the level of the euro is important in our monetary policy making,” Coeuré said in an interview with Bloomberg TV yesterday.

“It impacts on inflation, and we have an inflation mandate. So the stronger the euro, the more need for monetary accommodation.”