ECB's Panetta: It is clear that our stimulus so far has not been sufficient

Author: Justin Low | Category: Central Banks

Comments by ECB policymaker, Fabio Panetta, in an interview with Expresso

  • We should expect governing council to reassess the macroeconomic outlook
  • And also recalibrate its measures accordingly
  • Outlook for inflation has clearly deteriorated
  • It is clear that our stimulus so far has not been sufficient
  • In spring, we reacted quickly and we should do so again
  • Need to eliminate doubts about our determination to preserve price stability
  • We have firepower, we have instruments that we can calibrate
  • Full interview
This is a rather insightful interview covering an array of topics but the above is mostly a summary of what pertains to the upcoming December policy meeting. Panetta notes that the consensus is for more action to be taken next month.

Other than that, he didn't give too much away with regards to what policy tools they may go with but he did say:

... there's a lot more we can do through a combination of our asset purchase programmes and our measures to support the financing of the real economy through banks and the bond market.

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