The president of the European Central Bank warned that the US and the euro zone should not take the international position of their currencies for granted, when countries like China and Russia try to create their own systems.
The US and the Eurozone should not take the international position of their currencies for granted, when countries like China and Russia try to create their own systems, warned this Monday the president of the European Central Bank, Christine Lagarde.
“These developments do not point to an imminent loss of dominance of the US dollar or the euro,” Lagarde said in a speech. “So far, the data does not show substantial changes in the use of international currencies.”
“But they do suggest that the status of an international currency should no longer be taken for granted”said the official at the Council on Foreign Relations in New York.
Lagarda also questioned the inflation target
In another order, Lagarde declared that the European Central Bank You can discuss changing your 2% inflation target, but only after you bring inflation down to that level.
“At the moment… there is absolutely no reason to change that 2% medium-term target,” Lagarde said at the Council on Foreign Relations in New York. “Once we get there, once we’re sure it stays there, we can discuss it.”
Source: Ambito
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