19 Nov 2013
ECB's Praet optimistic on Eurozone recovery
FXstreet.com (Barcelona) - Speaking at the Euro Finance Week conference in Frankfurt, the ECB Governing Council member Peter Praet said that the state of the Eurozone economy had improved, expanding moderately but evenly.
He noted the improvement in fundamentals, stressing however that “it is still a fragile environment.” He acknowledged the low inflation, adding that inflation expectations were firmly anchored.
The ECB Governing council member also reiterated that monetary policy cannot repair the economy and stimulate growth on its own.
As far as the ECB's rate cut to a record low of 0.25% this month is concerned, Praet remarked that the Governing Council members had a lot of discussion about it, although they didn't differ much on analysis.
He noted the improvement in fundamentals, stressing however that “it is still a fragile environment.” He acknowledged the low inflation, adding that inflation expectations were firmly anchored.
The ECB Governing council member also reiterated that monetary policy cannot repair the economy and stimulate growth on its own.
As far as the ECB's rate cut to a record low of 0.25% this month is concerned, Praet remarked that the Governing Council members had a lot of discussion about it, although they didn't differ much on analysis.
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