Currency and Financial Markets ECB Economic Policy Europe Macroeconomics Monetary Policy

Statement on the Decision of ECB’s Governing Council 04/21/2016

“With its decision, the ECB has signalled the continuation of its expansionary monetary policy. The ECB policy of low interest rates will not end soon. I expect interest rates to remain close to zero for another 3 to 4 years.
The ECB has signaled that it will first assess the impact of its measures taken in March before deciding on additional measures. I do not expect a further easing of ECB policy before the end of this year, if there is no further significant deterioration in inflation expectations.
The criticism of the ECB by some politicians and economists in Germany is counterproductive and wrong. We urgently need a more open, more balanced and more informed debate in Germany on monetary policy, not accusations and personal attacks. The critics damage the effectiveness of ECB monetary policy and thereby hurt also the German economy.”

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