ECB must end economic support despite risks
The European Central Bank should put an end to its years-long stimulus effort for the eurozone despite a recent growth slowdown in the EU and rising economic risks, one of the institution's board member told AFP.
"It is time to gradually normalise monetary policy," Sabine Lautenschlaeger said.
She said that, while economic data showed "weaker-than-expected" conditions for the eurozone, "economic growth is overall within our projections."
She added she was confident the Frankfurt-based ECB would reach its goal of inflation close to, but below 2.0 percent.
Acceptable growth has convinced many ECB policymakers they can finally end the bank's mass purchases of government and corporate bonds, which served to pump cash through the eurozone's financial system and into the area's real economy, powering growth and boosting inflation.
The bond buying over the past three years has cost a total of 2.6 trillion euros ($3 trillion).
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