ECB’s Liikanen says he sees some signs of stabilisation in the global economy and the worst could be over, but doesn’t expect a rapid economic recovery.
The official sees the operability of the global financial system as still very limited, and sees a risk that credit losses will erode financial institutions’ standing and ability to lend.
Liikanen says the ECB never precommits on rates, and reiterates that the governing council has not decided this is the lowest level of rates.
