ECB's Lautenschläger: Monetary policy should return to normal as soon as can be justified

Key highlights from the speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, IEP Mittagsgespräch, 30 June 2017:

• The weak economy and low inflation have obliged the ECB to pursue a very loose monetary policy
• Even though I am critical of some of these instruments, an expansionary monetary policy stance was generally appropriate in order to fulfill our role
• Nonetheless, I consider it imperative that monetary policy should return to normal as soon as can be justified
• Monetary policy has to adjust at the right time, which is as soon as inflation is on a stable path towards our objective
• Although inflation is not yet on a stable path towards our objective, all the conditions are in place