A senior ECB (European Central Bank) policymaker has backed the central bank’s plan to kick-start inflation in the euro zone.
In an interview with Belgium’s Knack magazine published Wednesday, ECB Executive Board Member Peter Praet, said there was no “plan B” should the bank’s QE (quantitative easing) and low interest rate policy fail to produce results.
“If the ECB had not taken the measures that it did, we would be in a depression; I’m convinced of that. And a depression would be much worse than what we are experiencing today and worse than what we went through over the past decade,” he said.
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