Cœuré says ECB has no re-distributive mandate
The objective of monetary policy remains the same in crisis times as in normal times, according to European Central Bank (ECB) executive board member Benoit Cœuré - with responsibility for the distributional impact lying with "governments and other authorities".
In the ECB's mandated monetary policy framework, Cœuré told an audience at the National Bank of Austria, "distributional consequences of monetary policy are temporary, unintended, and with the view of safeguarding price stability"
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