ECB’s Mersch: QE led to material improvement in credit conditions

Yves Mersch, Member of the Executive Board of the ECB, crossed the wires last minutes, speaking at the Conference "Banking and Financial Regulation" at Bocconi University.

Key Points:

QE led to material improvement in credit conditions

Inflation forecasts harder to make in globalized world

We’re still concerned with stock of NPL, the faster we reduce risk the faster we can progress with banking union

While outlook has considerably improved across sectors, we have seen some disappointing developments of inflationary pressure