ECB’s Stark: We’re not behind the curve

The ECB has acted appropriately on interest rates and denies the bank is behind the curve, says the ECB’s chief economist. He takes a subtle swipe at the G20, saying increasing SDRs is not irresponsible but “lacks analysis”.

“Lacks analysis” is central bank-speak for “bloody stupid”. At the G20 meeting earlier this month, the IMF was given the go ahead to essentially “print money” by creating new special drawing rights, beating the ECB to quantitative ease.