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Forumer storico
Benoît C?uré: Interview with Bloomberg
On exiting expansionary monetary policy:
"The tapering decision and more generally the improving economic situation in the U.S. and the confirmation that monetary policy in the U.S. is on a normalization path, are generally expected to drive up global long-term yields. So far the European market has shown a good deal of resilience and capacity to disconnect from U.S. developments, which is welcome because it's consistent with the state of the euro-area economy.
But it's something that needs to be monitored very closely."
"Everything we're doing now is temporary; it has to end at some point. It's not meant to stay here eternally. But the time isn't ripe. The euro area economy is improving but it's still weak. The recovery is fragile and there are still downside risks so it will need the very accommodative policy for an extended period of time, as we've said. The time is not ripe yet for normalization but it will have to come and when it comes, that will be good news."
On exiting expansionary monetary policy:
"The tapering decision and more generally the improving economic situation in the U.S. and the confirmation that monetary policy in the U.S. is on a normalization path, are generally expected to drive up global long-term yields. So far the European market has shown a good deal of resilience and capacity to disconnect from U.S. developments, which is welcome because it's consistent with the state of the euro-area economy.
But it's something that needs to be monitored very closely."
"Everything we're doing now is temporary; it has to end at some point. It's not meant to stay here eternally. But the time isn't ripe. The euro area economy is improving but it's still weak. The recovery is fragile and there are still downside risks so it will need the very accommodative policy for an extended period of time, as we've said. The time is not ripe yet for normalization but it will have to come and when it comes, that will be good news."