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Mersch Supports QE Until Inflation Target Hit

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The European Central Bank needs to keep up its pace of “intervention” until low price inflation is back on target, a senior policy setter said on Monday.

“We need to maintain the pace and volume of our interventions … so that inflation rises back towards 2 percent as quickly as possible and that monetary policy can begin once more to normalise,” Yves Mersch, a member of the ECB’s Executive Board, said in the text of a speech.

The remarks show that Mersch, who had been sceptical about the launch of the 60-billion-euro-a-month programme to buy chiefly government bonds, is supportive of its rollout until its aim has been fulfilled.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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