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22 Sep 2014
ECB's Draghi: Ready to implement additional measures if necessary
FXStreet (Łódź) - The ECB president assures that the Governing Council is ready to use additional unconventional monetary tools to support the European economy, should the need arise.
• He points out however that ECB policy must be complemented by Member States' structural reforms to be effective.
• "The exchange rate is not a policy target but an appreciable increase poses a risk to the euro area recovery."
• Combination of new measures will have sizeable impact on the ECB balance sheet.
• Purchase programs are a transition from more passive provision of central bank credit to more active management of ECB's balance sheet.
• He points out however that ECB policy must be complemented by Member States' structural reforms to be effective.
• "The exchange rate is not a policy target but an appreciable increase poses a risk to the euro area recovery."
• Combination of new measures will have sizeable impact on the ECB balance sheet.
• Purchase programs are a transition from more passive provision of central bank credit to more active management of ECB's balance sheet.