Euro depreciation in line with policy differences

The euro’s depreciation is in line with the divergence of monetary policies around the world, European Central Bank president Mario Draghi has said.

“The exchange-rate movement reflects the different path of monetary policies in Europe versus the monetary policies in other important countries,” Mr Draghi said in an interview with Europe 1 Radio published on the ECB’s website.

“Our monetary policy will stay accommodative through time for an extended period of time while other countries’ monetary policies may gradually acknowledge that recovery is taking place in their countries.”