LATEST NEWS : Draghi Devaluing Euro Cheers ECB as Inflation Seen Fading

Mario Draghi’s strategy for reviving the euro area looks like devaluation.

While the European Central Bank president says the exchange rate isn’t a policy target, officials aren’t secretive about their approval of the currency’s almost 10 percent slide. The depreciation increases the cost of imports and boosts exporters’ competitiveness, aiding the effort to revive inflation that data tomorrow will probably show is the weakest since 2009. A gauge of economic confidence published today slipped to the lowest since November.

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