(Bloomberg) -- U.S. President Donald Trump might not understand the goals and independence of the European Central Bank, according to ECB policy maker Carlos Costa.
“As was said by Mario Draghi, our target is not the exchange rate, our target is inflation,” ECB Governing Council Member Costa said on Wednesday in an interview with Bloomberg Television’s Matt Miller at the ECB Forum in Sintra, Portugal. “It’s normal that there are comments, namely from those that don’t understand what is the independence and the aim of the ECB.’’
The Portuguese central-bank governor spoke a day after Trump criticized ECB President Draghi for signaling more stimulus, saying the resultant drop in the euro and rise in stocks was “unfair.” Trump has also repeatedly attacked the U.S. Federal Reserve for a policy he considers too tight.
Asked if he had any concerns on the possible effects of other central banks easing their policies, Costa said “our monetary policy is dependent on our aim. It’s not dependent on other monetary policies.”
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