ECB Vice-President Luis de Guindos reiterated the central bank’s accommodative stance in an event in London today. He said “the low interest rate environment is with us for the foreseeable future and is caused in large part by durable structural factors”. He added, “even once monetary policy normalizes, interest rates are likely to remain below levels that were common in previous decades.”
On Brexit, he said “I hope we will be able to take advantage of the new period of time that British government, parliament have at its disposable to reach an orderly Brexit. On Italy, he said “the main recommendation is to pursue reforms that improve the effectiveness of the economy.”
