European Central Bank policymakers agreed that a steady course of monetary policy with a focus on the firm implementation of the Governing Council’s stimulus measures must be pursued more intently, the minutes of the April 14-15 minutes showed on Thursday.
“Members agreed that emphasis needed to be placed on a steady course of monetary policy with a focus on the firm implementation of the Governing Council’s recent monetary policy decisions,” the minutes said.
“The Governing Council therefore reaffirmed its intention to conduct purchases until the end of September 2016 and, in any case, until a sustained adjustment was visible in the path of inflation consistent with the Governing Council’s aim of achieving inflation rates below, but close to, 2% over the medium term.”
In April, the ECB Governing Council decided to leave interest rates unchanged for a sixth straight session at a record low 0.05 percent.
Further, policymakers agreed that a strong signal needed to be sent to euro area governments urging them to press ahead with structural reforms and to take measures to improve the business environment, the minutes said.
“Only with such complementary action could the full benefits of the monetary policy measures be reaped,” the report, which the ECB calls “account” of the meeting, said.
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