Comments from ECB chief economist Stark are hitting the wires. He says:

  • Current interest rates are appropriate
  • Data point to economy stabilizing
  • Data point to economic growth sooner than previously thought
  • The return to growth is based on stimulus, not a sustainable return to growth yet
  • He hopes interest rates will be passed on quicker by banks
  • Too early for exit strategy on covered bonds
  • To early to decide whether to add spread to refi rate at Sept unlimited 1-year tender