ECB's Mersch: any change in monetary policy always a shock to the economy

Yves Mersch, Member of the Executive Board of the European Central Bank, during an interview with Luxemburger Wort, German language Luxembourgish daily newspaper, was noted saying that all the indicators point to economic growth in Europe continuing and any change in monetary policy stance is always a shock to the economy, positive or negative.

Additional quotes:

   •  The bigger the imbalances, the less the economy is prepared for a monetary policy change
   •  Loose monetary policy, loose fiscal policy, lax supervision asking for trouble
   •  We set interest rates for the euro area as a whole. We are not yet ready at this stage to change interest rates
   •  We're confident with the path which is leading to our objective
   •  Primary objective is price stability, which we have defined as an inflation rate of below, but close to, 2% in the medium term

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