LUXEMBOURG: There is no disagreement between the European Central Bank and the International Monetary Fund on the possibility of additional steps to boost euro zone inflation, in case the current steps are ineffective, ECB executive board member Benoit Coeure said.
"I think there is no disagreement with the IMF, we have been clear that in case inflation would be too low for too long we can use additional instruments, including additional non-standard measures in case inflation would prove too low for too long, but we are not in that situation today so I think there is no disagreement at all with the IMF," Coeure said.
"It is possible, it is in the toolbox, but it is not needed today," he told reporters on entering a monthly meeting of European Union finance ministers.
The IMF noted in its regular report on the euro zone on Thursday that: "The ECB's willingness to do more, if necessary, is reassuring. If inflation remains stubbornly low, the ECB should consider a large-scale asset purchase program, primarily of sovereign assets, according to the ECB's capital key," it said.
indiatimes.com
"I think there is no disagreement with the IMF, we have been clear that in case inflation would be too low for too long we can use additional instruments, including additional non-standard measures in case inflation would prove too low for too long, but we are not in that situation today so I think there is no disagreement at all with the IMF," Coeure said.
"It is possible, it is in the toolbox, but it is not needed today," he told reporters on entering a monthly meeting of European Union finance ministers.
The IMF noted in its regular report on the euro zone on Thursday that: "The ECB's willingness to do more, if necessary, is reassuring. If inflation remains stubbornly low, the ECB should consider a large-scale asset purchase program, primarily of sovereign assets, according to the ECB's capital key," it said.
indiatimes.com
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