The chief economist of the European Central Bank (ECB), Philip Lane, has said that purchases of bank stocks or bonds to combat the impact of the coronavirus pandemic are not in the central bank’s toolbox, in an interview with the German newspaper Sueddeutsche Zeitung over the weekend.
Key Comments:
“The ECB and the Eurosystem have a lot of excellent monetary economists, so everything is considered at some level.”
“But these measures are not part of our current toolbox. Our active toolbox is a combination of our short-term rates, asset purchases, targeted loans, and our future orientation.“.
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