ECB Schnabel speaking

  • no evidence ECB bond buying delayed economic reforms
  • bond buying currently more effective than negative rates
  • lowering interest rates remain an option for future
  • Eurosystem holds about 9% of balance sheet in gold
  • By focusing on the medium-term, we can adjust the speed of returning to our inflation aim
  • ECB to consider pros, cons of price level targeting
  • ECB has no intention of abandoning cash
  • ECB expects sizable take up of TLTTRO-III next week

You can follow the twitter Q&A HERE