ECB's Mersch: Monetary policy gaining traction in the Eurozone

FXStreet (Łodź) - ECB Executive Board member Yves Mersch said on Friday that recent data pointed to a pickup in Eurozone growth. He suggested that ECB's monetary policy moves were permeating further into the economy, allowing business and households to feel their benefits, especially through bank lending.

"We have reason to be optimistic that our accommodative monetary policy is feeding through to the real economy,” said Mersch, speaking at the at the Institute of International European Affairs.

The ECB lawmaker stressed however that the recovery in the Eurozone remained weak and uneven and unemployment was excessively high. He assured that the central bank would maintain its accomodative monetary policy for as long and necessary to spur growth in the area.

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