Economics
ECB Tells Governments to Step Up and Markets to Be Rational
- Officials reviewing stimulus program before March 10 meeting
- Latest survey data shows euro-area factories slashing prices
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European Central Bank officials, preparing to consider fresh stimulus for the euro area, warned governments to get moving with structural reforms and told investors to be realistic about any action monetary-policy makers might take.
Speaking at a conference in Budapest, Executive Board member Benoit Coeure reiterated that the ECB will “review and possibly reconsider” its policy stance at its March 10 meeting, while stressing that without economic reforms the region’s recovery won’t last. Governing Council member Ewald Nowotny said he hoped markets would be “more rational” than they were in December, when central-bank measures fell short of expectations and sent the euro and bond yields soaring.