Mersch Supports QE Until Inflation Target Hit

The European Central Bank needs to keep up its pace of “intervention” until low price inflation is back on target, a senior policy setter said on Monday.

“We need to maintain the pace and volume of our interventions … so that inflation rises back towards 2 percent as quickly as possible and that monetary policy can begin once more to normalise,” Yves Mersch, a member of the ECB’s Executive Board, said in the text of a speech.

The remarks show that Mersch, who had been sceptical about the launch of the 60-billion-euro-a-month programme to buy chiefly government bonds, is supportive of its rollout until its aim has been fulfilled.

Reuters

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