ECB’s Coeure: Eurozone economy is not doing so badly
|More comments are crossing the wires from the European Central Bank (ECB) Governing Council member Benoit Coeure from his Financial Times interview.
The eurozone economy is not doing so badly; in fact, services and construction are doing quite well.
The question is which instrument, or combination of instruments, would be best suited to the circumstances, that discussion only started in vilnius; we need to take it forward.
We would have to consider whether a tiering system is needed.
Stronger monetary policy reaction would magnify the potential downsides of rates being low for long.
Asked whether ECB should review inflation objective, says we have more urgent issues to face right now, but I’m pretty sure that we’ll do it at some point nevertheless.
Eurozone’s structural weaknesses, its lingering fragilities, are not going to go away soon.
As ECB, we do have instruments, and we’ve shown that we’re ready to use them and even design new ones while staying within our mandate.
The cost of using any given instrument might be increasing, which makes the trade-offs more acute.
We have a clear price stability mandate, and everything we can do to combat climate change has to be assessed against it.
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