Articles by ECB Executive Board member Yves Mersch and Governing Council member Vitas Vasiliauskas were published Wednesday by Eurofi today. While Mersch’s article was submitted back on March 21 and Vasiliauskas on March 15, there’re worth a quick read.
Mersch’s article was on the topic of “Monetary policy in the euro area: solid expansion with timid price pressure”. He noted that:
- “Confidence has recently risen and convergence is being confirmed — partly because the temporary decline in the inflation rate has been weaker than our internal calculations had predicted,”
- “More resilience will follow eventually. Still, patience and persistence with respect to our monetary policy is required.”
Vasiliauskas article was on the topic of “The time is approaching to seriously consider a smooth transition from the APP”. He noted:
- “We have witnessed the strengthening of broad-based growth and steadily declining unemployment, providing conditions for inflation convergence to our objective.”
- “This has increased my confidence that it is time to transition from the asset purchase program. However, the closure of the program should not be abrupt.”
