Mersch: Asset buying may widen income inequality
Delivering price stability has ‘distributional consequences’, says Mersch
European Central Bank (ECB) executive board member Yves Mersch has warned that large-scale asset purchases "seem to widen income inequality" and, therefore, non-standard policies "shouldn't last too long".
Speaking today at the Corporate Credit Conference, in Zurich, Mersch said the ECB has a "clear mandate to deliver price stability", but the institution needs to be aware of the "distributional consequences" of its actions.
Nevertheless, he recognised the need to act powerfully in times of
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