ECB Governing Council member, Pablo Hernandez de Cos, expressed his thoughts on the direction of ECB’s monetary policy during a speech yesterday.
In his remarks, de Cos stated, “We think that we still have some way to go in tightening monetary policy, although we also think that we are closer to the end.” This suggests a continued commitment to ECB’s policy of monetary tightening, albeit with the recognition that this phase might be nearing its completion.
Furthermore, de Cos underscored the necessity of maintaining restrictive interest rates over a substantial duration. The intention behind this strategy, he explained, is to ensure ECB’s objectives are achieved in a consistent manner over time.
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