Praet says ECB policy is working
Policy must be assessed “counterfactually”, ECB executive board member says
The unconventional monetary policy of the European Central Bank (ECB) is working despite the eurozone's failure to show a sustained recovery, Peter Praet said today (April 7).
Policy needed to be assessed "counterfactually" to form a true estimate of its effectiveness, the ECB executive board member told an audience in Frankfurt.
Policy-makers had to be careful not to assess monetary policy by "eyeing where certain key variables are today compared with the beginning of the policy and then
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