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- ECB’s Panetta sees no justification for slowing bond-buying
ECB’s Panetta sees no justification for slowing bond-buying
Bloomberg reports that ECB Executive Board member Fabio Panetta said he sees no signs of sustained inflation pressures that would allow for a reduction in bond purchases.
“Only a sustained increase in inflationary pressures, reflected in an upward trend in underlying inflation and bringing inflation and inflation expectations in line with our aim, could justify a reduction in our purchases,” Panetta said.
“But this is not what we projected in March. And, since then, I have not seen changes in financing conditions or the economic outlook that would shift the inflation path upward,” he said.
Panetta also noted the recent rise in the euro, saying that “in this environment, it is not surprising that we have also seen a persistent, non-negligible appreciation of the exchange rate, which -- if sustained -- would weaken inflationary pressures.”
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