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- European Central Bank Executive Board member Yves Mersch: a majority of the Governing Council members did not want to add further stimulus measures last week
European Central Bank Executive Board member Yves Mersch: a majority of the Governing Council members did not want to add further stimulus measures last week
The European Central Bank (ECB) Executive Board member Yves Mersch said on Wednesday evening that a majority of the Governing Council members did not want to add further stimulus measures last week.
"The very large majority of the Governing Council is of the view that the measures are appropriate and that more is not needed to reach our goal," he said.
Mersch noted that the ECB is ready to add further stimulus measures to reach 2% inflation target if needed.
He pointed out that the central bank was not responsible for market disappointment after the release of the ECB's monetary policy decision.
"If we were to have gone out and said each time, that is not correct, then we wouldn't have needed to have had a Council meeting. It was correct to protect the integrity of the institution," Mersch said.
"I don't see that I contributed to any raising of expectations," he added.
Mersch also said that the downside risk to the global economy from the slowdown in China increased.
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