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ECB's Praet: monetary policy measures have been effective

Speaking at the ECB workshop on “Money markets, monetary policy implementation and central bank balance sheets”, Member of the Executive Board of the ECB, Peter Praet was noted saying that monetary policy measures have been effective and that convergence of inflation towards our aim remains conditional on a substantial degree of monetary policy accommodation.

He further added that October decision was taken against the backdrop of a solid and broad-based economic expansion, which the Euro-area continues to experience.

Meanwhile, the EUR/USD major extended its lackluster trading action and held within a narrow trading range around the 1.1600 handle. 

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