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The ECB set its medium-term inflation target at 2%, dropping the earlier formulation of below but close to 2%. The review also gave the central bank a stronger role on climate.
A symmetric 2% target signals that the ECB will tolerate inflation above target, which supports a looser policy path and a weaker euro over time. This affects euro-based feed import costs and currency flows.
reuters.comBalazs Koranyi, Mark JohnJul 8, 2021After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
