Euro slips on report ECB looking at revising inflation target

Staff were informally analyzing the ECB's policy approach, including the question of whether the current target of consumer-price growth “below, but close to, 2%” is still appropriate for the post-crisis era, Bloomberg reported, citing sources who spoke on condition of anonymity.

ECB President Mario Draghi favors a “symmetrical” approach, meaning flexibility to be either above or below a specific 2% goal, the officials said.

The bank's Governing Council members were given a presentation last week on symmetrical approaches to the current target. Changing the goal itself would probably require a formal review, the officials said. An ECB spokesman declined to comment.

The euro was down to 1.1206 from 1.1230 earlier.