BRATISLAVA: The European Central Bank stands ready to pump more liquidity into the market if needed, ECB Governing Council member Jozef Makuch said on Monday.
"As far as the need to supply liquidity to the market is concerned, the European Central Bank will do what will be necessary to do," Makuch, who is also the head of Slovakia's central bank, said at a news conference.
"If it is necessary to supply liquidity to the market, it will certainly supply it.
This is what the European Central Bank is made for," he said. Expectation for another round of ultra-cheap long-term funding from the ECB grew last week after ECB President Mario Draghi said was ready to offer banks more long-term loans to keep money-market interest rates from rising to levels which could hurt growth and push inflation too low.
The ECB's Governing Council will hold its monthly policy meeting on Wednesday.
But Makuch it was "useless to speculate about what will happen". The adequate instrument would be used depending on the need, he added.
indiatimes.com
"As far as the need to supply liquidity to the market is concerned, the European Central Bank will do what will be necessary to do," Makuch, who is also the head of Slovakia's central bank, said at a news conference.
"If it is necessary to supply liquidity to the market, it will certainly supply it.
This is what the European Central Bank is made for," he said. Expectation for another round of ultra-cheap long-term funding from the ECB grew last week after ECB President Mario Draghi said was ready to offer banks more long-term loans to keep money-market interest rates from rising to levels which could hurt growth and push inflation too low.
The ECB's Governing Council will hold its monthly policy meeting on Wednesday.
But Makuch it was "useless to speculate about what will happen". The adequate instrument would be used depending on the need, he added.
indiatimes.com
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