Benoît Coeuré is an executive board member of the European Central Bank (headline comments here and here earlier)
He spoke in Washington Thursday The Wall Street Journal on his comments:
- Central banks risk destabilizing the financial system if they extend bond-buying programs for too long
- The comments-just as the ECB prepares to decide the fate of its own asset-purchase program-underline differences of opinion within the central bank over how quickly to withdraw its sweeping stimulus measures as the eurozone economy picks up
And, as background:
- The ECB is preparing to decide how to scale down its €60 billion-a-month bond-buying program, known as quantitative easing, as the region's economy accelerates. The program is currently due to run at least through December.
Journal article is here, may be gated:
ECB Official Warns About Impact of Extending Bond-Buying Programs
Comments underline differences of opinion within the central bank on when to withdraw stimulus measures
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The point I made in my post re the comments was there was no clue as to timing from Coeuré. Which is what a lot of traders are trying to divine from various comments. I guess we await Mario Draghi's advice.