The European Central Bank will maintain its ultra-easy policy stance until it is happy with the path of inflation in the euro zone, ECB’s policymaker Philip Lane said, citing a new round of cheap loans to banks as one of the available tools.
DUBLIN (Reuters) – The European Central Bank will maintain its ultra-easy policy stance until it is happy with the path of inflation in the euro zone, ECB&rsquo-s policymaker Philip Lane said, citing a new round of cheap loans to banks as one of the available tools.
&ldquo-What we have now is the forward guidance for 2018 and the accommodative monetary stance is there until we see convincing evidence that inflation is on a sustainable path toward the target,&rdquo- Lane, who heads the Irish central bank, said.
The ECB is due to decide next month on the future of its 2.3 trillion euro bond-buying program, with sources telling Reuters a cut in the pace of buying is on the cards.
&ldquo-What we would be doing in the autumn is to work out the calibration of our monetary policy instruments,&rdquo- he added.
&ldquo-Of course we&rsquo-ve accumulated a big stock at this point as well and then you&rsquo-ve other measures that are not currently active that as a matter of logic, they are part of what can be done such as versions of TLTROs (targeted longer-term refinancing operations).&rdquo-
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