18 Jul 2013
ECB's Assmussen: Monetary policy to remain expansionary for as long as needed
FXstreet.com (Barcelona) - ECB Governing Board member Jörg Asmussen, who took part in a panel discussion on European Economic Integration in Vilnius, Lithuania, said that the central bank's monetary policy would remain expansionary for as long as needed.
Asmussen reminded that the ECB has a variety of non standard measures at its disposal, which are ready to be used in order to “ensure price stability in the medium term in the whole euro area.”
Nevertheless, the ECB Governing Board member pointed out that the central bank cannot solve all economic problems on its own if EU national governments fail to carry out sound fiscal policy. He emphasized that boosting employment should be on top of the Eurozone policymakers' agenda and stated that the austerity vs growth debate is wrong debate.
Asmussen reminded that the ECB has a variety of non standard measures at its disposal, which are ready to be used in order to “ensure price stability in the medium term in the whole euro area.”
Nevertheless, the ECB Governing Board member pointed out that the central bank cannot solve all economic problems on its own if EU national governments fail to carry out sound fiscal policy. He emphasized that boosting employment should be on top of the Eurozone policymakers' agenda and stated that the austerity vs growth debate is wrong debate.