ECB's Rehn tells WSJ any new easing must be 'significant and impactful'
By Alexander Bueso
Date: Friday 16 Aug 2019
(Sharecast News) - A top European Central Bank official argued at the end of the week for the monetary authority to err on the side of caution and deliver a larger than expected does of monetary stimulus when policymakers next met.
In an interview with the Wall Street Journal, ECB Governing Council member, Olli Rehn, said rate-setters should restart debt purchases and that any new quantitative programme must be "substantial and sufficient".
"It is important that we put forward a significant and impactful package of measures in September," he reportedly said.
Rehn reportedly did not rule out the ECB purchasing shares in listed companies and argued in favour of modifying the current limit on the ECB buying more than a third of any one government's debt.
He also reportedly said that the terms of its longer-term loans for banks should also be sweetened.
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