ECB's Coeure: Significant monetary policy stimulus is still needed in the euro area

Below are some key takeaways from the speech delivered by Benoît Cœuré, Member of the Executive Board of the ECB, at a conference on “Exiting Unconventional Monetary Policies”, organised by the Euro 50 Group, the CF40 forum and CIGI, Paris, 26 October 2018.

• Policymakers have been able to pursue their domestic objectives without sending shock waves across global financial markets.
• In an integrated global financial market, central banks need to calibrate their policies according to their domestic mandates. 
  • In the euro area, this means that significant monetary policy stimulus is still needed to support the further build-up of domestic price pressures and headline inflation developments over the medium term.
  • This support will continue to be provided by the net asset purchases until the end of the year.