European Central Bank (ECB) Governing Council member Ignazio Visco said today that downside risks have mounted and that inflation data, and in particular inflation expectations, are discouraging.
Visco added that the Bank would do what is necessary to “respect” its price stability mandate.
Key quotes
Inflation, especially inflation expectations, not encouraging
Goal is not to let expectations de-anchor dramatically
ECB determined to do what’s necessary to respect mandate
Negative interest rates are very unconventional policy
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