ECB’s Cœuré says asset purchases are not responsible for exchange rate movements
Executive board member says purchase programme has boosted economic growth and inflation prospects
A member of the European Central Bank’s (ECB) executive board has vehemently defended the central bank’s asset purchase programme (APP), stating it is not wholly responsible for exchange rate movements in other countries.
Speaking at the Foreign Exchange Contact Group meeting on July 11, Benoît Cœuré said the APP has been “instrumental” in easing monetary policy at the effective lower bound in major advanced economies. “These policies have successfully boosted economic growth and inflation
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
PBoC launches special lending facility for share buybacks
Governor says central bank might also make further cuts to reserve requirement ratio
Egypt holds interest rates
Central bank expects inflation to fall as economy slows
Chile continues easing cycle with 25bp cut
Analyst says another reduction in December is “far from guaranteed”
European Central Bank cuts rates by 25bp
“Undershooting target” becomes real threat as markets’ medium-term inflation expectations fall below 2%
Turkey holds rates for seventh consecutive time
Decision comes after monthly inflation ticked up in September
How the rate hike cycle emboldened banks’ deposit modelling
But just because depositors didn’t react quickly doesn’t mean it will never happen
Bank of Thailand announces first rate cut in four years
Central bank unexpectedly eases policy by 25bp as inflation stays below target
Indonesia holds while Philippines cuts
Policy rates for both countries now stand at 6% as inflation slows