ECB board nominee Panetta: Benefits of ECB policy outweigh side effects for now
ECB board nominee, Fabio Panetta, is speaking in the European Parliament
- Must be alert to unintended consequences of policy
- ECB instruments must be used flexibly in line with mandate
- There is no justification for complacency in policy
Nothing new here as Panetta is just reiterating the same old stuff. Expect more generic comments from him as he is making his case to replace Coeure on the governing council at the end of this year.