ECB not entirely happy with the results of its policy, Panetta says

FILE PHOTO: Specialists work on a crane in front of the European Central Bank (ECB) in Frankfurt
FILE PHOTO: The European Central Bank logo. Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski/File Photo

September 15, 2020

FRANKFURT (Reuters) – The European Central Bank must remain on alert about the state of the euro zone’s pandemic-struck economy and the euro’s exchange rate as the results of its stimulus measures are “not fully satisfactory yet”, ECB board member Fabio Panetta said on Tuesday.

“The results achieved by our monetary policy measures are remarkable, but they are not fully satisfactory yet, as price pressures and inflation expectations are expected to remain subdued,” Panetta said.

“In light of the current outlook for inflation, we need to remain vigilant and carefully assess incoming information, including exchange rate developments.”

(Reporting By Francesco Canepa; Editing by Baalzs Koranyi)