Praet Says ECB Vigilant in Preventing Unwarranted Tightening
- Recent market volatility hasn't materially affected outlook
- QE seen working largely as intended, has flexibility if needed
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The European Central Bank will ensure its policy stance remains as accommodative as needed amid financial-market turbulence, according to Executive Board member Peter Praet.
“The Governing Council will remain vigilant that recent volatility does not materially affect the broad array of financial conditions and therefore lead to an unwarranted tightening of the monetary-policy stance,” Praet said Thursday in a speech in Bussum, the Netherlands. “It has emphasized its willingness and ability to act, if warranted, by using all the instruments available within its mandate.”