ECB's Muller: Timely exit from temporary emergency measures is important

Author: Justin Low | Category: Central Banks

Comments by ECB governing council member, Madis Muller

  • A timely exit from temporary emergency measures as the economy improves is just as important as decisive policy action during the crisis
  • This will minimise the risk of undesirable side effects of accommodative policy being kept in place for longer than necessary
  • Ultra low rates have been around for longer than initially expected, so need to study the impact this may have on the financial sector, changes in real economy
There is a time and place for everything and while Muller's argument makes sense from a central bank playbook, now isn't the time to be talking about exiting those measures just yet - not when the recovery phase is still in question.

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