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ECB’s Knot Urges QE End to Help Wean World Economy Off Stimulus

  • Dutch central-bank governor says unwinding could take a decade
  • Knot warns of economic damage if central banks wait too long

The world no longer needs “extraordinary” monetary stimulus and the European Central Bank should play its part by ending its own bond-buying program after September, according to Dutch central bank Governor Klaas Knot.

“The top priority is to normalize monetary policy and strengthen the economic and monetary union,” Knot, who sits on the ECB’s Governing Council, said as he presented his bank’s annual report in Amsterdam on Thursday. “This is now a widely-shared realization, certainly also in the financial markets.”