ECB Stimulus Is Working, Council Members Say Before Meeting
- Vasiliauskas, Nowotny see unconventional steps having impact
- Nowotny sees energy-stripping core CPI `more in equilibrium'
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The European Central Bank’s quantitative easing program is working out for the euro area, and the main signals that may lead to future adjustments will be inflationary expectations, Lithuanian Governing Council member Vitas Vasiliauskas said.
Vasiliauskas’s comments echoed those of fellow Governing Council member Ewald Nowotny, who said the monetary authority’s unconventional measures were working and core inflation was “more in equilibrium” than oil-driven headline price growth.