ECB’s Benoit Coeure on the wires
- I expect the link between asset purchases and inflation in the policy message to be changed between now and Sep 2018
- Most members agreed that we need flexibility on the end date, September 2018 is still far away
- Expect a change in language when the Governing Council is sufficiently confident that net asset purchases are less needed for inflation to return towards 2% in a sustainable way
- Now is not the right time to start a discussion on the ECB’s definition of price stability, in either direction
- Asset purchases will remain an exceptional instrument, they will not be a permanent part of our monetary policy
- Says it’s logical to expect that this QE extension is the final one
Nothing doing in the euro on these comments. 1.1740 we snooze at.