ECB's Coeure: QE has successfully boosted economic growth and inflation prospects
|Key highlights from the presentation by Benoît Cœuré, Member of the Executive Board of the ECB, at the Foreign Exchange Contact Group meeting, 11 July 2017:
- QE has successfully boosted economic growth and inflation prospects
- QE has clearly caused spillover effects on other countries via capital flows and relative asset price movements
- Currency depreciation is a side-effect of policy and neither its main transmission channel, nor its objective
- The view that asset purchase programmes in large advanced economies have encouraged harmful currency wars is misleading
- The world of monetary policy is not an arena where central banks engage and compete for advantage
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