“We are still quite far. The side effects of the European Central Bank’s ultra-expansionary monetary stance could eventually force policy makers to renounce a pledge to keep rates low, according to Governing Council member Pierre Wunsch. Too low rates, for example, could reduce lending margins to a point where banks simply stop lending. Wunsch, a relative newcomer to the 25-member Governing Council, accepted that these were legitimate concerns but said the ECB was far from the limits of stimulus. ECB Governing Council member Pierre Wunsch. Wunsch, a relative newcomer to the 25-member Governing Council, accepted that these were legitimate concerns but said the ECB was far from the limits of stimulus.

“The issue would have come back again and again and again,” Wunsch said.

By continuing to browse our site you agree to our use of, Get passive income just by sharing the SimpleFX US election banners, US election trading playbook - Join Markets.com's live webinar, USD/JPY update: Rising coronavirus cases, lack of stimulus, US election, EuropeFX taking trading to the next level with RoboX, There are three types of US election polls. “We are still quite far.

Source: Reuters (Reporting by Balazs Koranyi; Editing by Hugh Lawson), Weak euro zone economy justifies ECB’s latest stimulus: Wunsch, Online Daily Newspaper on Hellenic and International Shipping, This site uses cookies to enhance your user experience. Add them up and a blowout is increasingly likely, Major currencies mostly little changed so far, AUD/USD nears 0.7000 once again to start the session, Crude oil futures close lower but bounces off 50% retracement support, FX option expiries for Friday October 30 at the 10am NY cut, FX option expiries for Thursday October 29 at the 10am NY cut, FX option expiries for Wednesday October 28 at the 10am NY cut, FX option expiries for Tuesday October 27 at the 10am NY cut, FX option expiries for Monday October 26 at the 10am NY cut, ECB's Mersch: It is our firm intention to play our role in the second wave of the pandemic, ECB's Holzmann: It is right to assume Lagarde signaled more stimulus to come, ANZ preview the RBA meeting on November 3 - rate cut and more, ING make "The case against a rate cut" from the Reserve Bank of Australia, PBOC sets USD/ CNY reference rate for today at 6.7232 (vs. yesterday at 6.7260), Impact of virus can lower ECB's growth projections, ECB doesn't have to act on every negative shock. Below are some additional comments. “Right now, we are far from our objective. var jo = document.createElement('script'); Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. “So I guess the decision would have been taken anyway, while now we have already a robust framework in place and the new president must not ask us to make decisions in the first meetings.”. Too low rates, for example, could reduce lending margins to a point where banks simply stop lending. “If the incoming news is not very positive - and it hasn’t been positive since the decision - it reinforces the case for the decision,” Wunsch added. FRANKFURT (Reuters) - A recent string of dismal economic indicators justifies the European Central Bank’s move last month to provide more stimulus, and the bank can ease more if it needs to, Governing Council member Pierre Wunsch said. Be it the reversal rate or financial stability, those are real concerns, but my take is that on both of them, we are quite far from binding trade-offs,” Wunsch added.

There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. “We are still quite far. Wunsch, a relative newcomer to the 25-member Governing Council, accepted that these were legitimate concerns but said the ECB was far from the limits of stimulus. Policy makers promised that won’t come until inflation has converged with their goal of below, but close to, 2%. Wunsch, a relative newcomer to the 25-member Governing Council, accepted that these were legitimate concerns but said the ECB was far from the limits of stimulus. “The issue would have come back again and again and again,” Wunsch said. Wunsch, a relative newcomer to the 25-member Governing Council, accepted that these were legitimate concerns but said the ECB was far from the limits of stimulus. “I don’t want to prejudge this discussion, but to me it seems that we could find ways to continue being accommodative without necessarily breaching the limits.”.

document.getElementsByTagName('head')[0].appendChild(jo); Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. “So I guess the decision would have been taken anyway, while now we have already a robust framework in place and the new president must not ask us to make decisions in the first meetings.”. One of the arguments against more stimulus was that easing financial conditions too far becomes counterproductive. Updated forecasts are due in December and may offer a clue on how long the ECB will maintain its stance. This is by no means investment advice. Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. “So essentially you have a meeting before the meeting.”, Reporting by Balazs Koranyi; Editing by Hugh Lawson. None of the blogs or other sources of information is to be considered as constituting a track record. Another argument against indefinite bond purchases was that it ties the hands of incoming ECB President Christine Lagarde, who takes over from Mario Draghi on Nov 1 and will have to own a scheme that may run for years to come. ECB’s Wunsch Suggests Escape Clause If Stimulus Causes Damage By . While ultra-loose policy raises valid concerns about financial stability, the move was still necessary and gives incoming ECB boss Christine Lagarde time to prepare for a broader review of the bank’s strategy, Wunsch, Belgium’s central bank governor, told Reuters in an interview. "We are still quite far. Pierre Wunsch will succeed Jan Smets as Belgian central bank governor in 2019 - Decision will be driven by economic data - ECB has stopped QE and … “We should be paying attention to the side effects of our policy and reflect on the proportionality of what we are doing,” said Wunsch, whose term started in January. FRANKFURT (Reuters) - A recent string of dismal economic indicators justifies the European Central Bank’s move last month to provide more stimulus, and the bank can ease more if it needs to, Governing Council member Pierre Wunsch said.

“So I guess the decision would have been taken anyway, while now we have already a robust framework in place and the new president must not ask us to make decisions in the first meetings.”. Commenting on the public spat between policymakers over the stimulus, Wunsch said that differences were actually smaller than they appear in the press but that it was still necessary to reconsider how policymakers communicate before meetings. The problem is that some policymakers voice strong opinions ahead of meetings, drawing battle lines before the actual decisions are made, making it more difficult to have open-minded discussions behind closed doors, he said.

Subscribe to our Newsletter. Leverage creates additional risk and loss exposure. Belgian governor sees alternative ways to deal with QE limits, Wusch says favors fixing inflation target at 2%, policy review, Bill Lee Says Draghi's 'Do Whatever it Takes' Motto is Best Central Banking Done This Century. In an exclusive interview with Reuters on Friday, European Central Bank (ECB) Governing Council member Pierre Wunsch noted that the incoming data since the introduction of the new stimulus package in September were not positive and added that the ECB remains far from its targets.

“Right now, we are far from our objective. Get the latest breaking foreign exchange trade news and current updates from active traders daily. The ECB kept its deposit rate at -0.5% on Thursday and confirmed bond-buying to the tune of 20 billion euros ($23 billion) a month would start in November. Founded in 2008, ForexLive.com is the premier forex trading news site offering interesting commentary, opinion and analysis for true FX trading professionals. “Knowing last year what we know about the economy today - that we’re not just experiencing a temporary soft patch - we would not have stopped quantitative easing (in 2018),” Wunsch said. “Knowing last year what we know about the economy today – that we’re not just experiencing a temporary soft patch – we would not have stopped quantitative easing (in 2018),” Wunsch said. “We are still quite far. The EUR/USD pair eased slightly from session tops on these comments and was last seen trading at 1.1120, adding 0.15% on a daily basis. A comprehensive package also signals to markets that the ECB is willing to act with all instruments, a vital message to markets that policymakers will not hesitate to act when required just because the bank was deeply in unconventional territory. Be it the reversal rate or financial stability, those are real concerns, but my take is that on both of them, we are quite far from binding trade-offs,” Wunsch added. While ultra-loose policy raises valid concerns about financial stability, the move was still necessary and gives incoming ECB boss Christine Lagarde time to prepare for a broader review of the bank’s strategy, Wunsch, Belgium’s central bank governor, told Reuters in an interview. Wyckoff, Where Are the Stops - Jim A recent string of dismal economic indicators justifies the European Central Bank’s move last month to provide more stimulus, and the bank can ease more if it needs to, Governing Council member Pierre Wunsch said. One of the arguments against more stimulus was that easing financial conditions too far becomes counterproductive. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. In the face of a lengthy slowdown, the ECB unveiled a fresh stimulus package last month even as a third of policymakers on the normally collegial Governing Council voiced opposition to fresh asset purchases, also known as quantitative easing. One of the arguments against more stimulus was that easing financial conditions too far becomes counterproductive. For more info go to our Cookie Policy, Lloyd’s Register launches dedicated Maritime Decarbonisation Hub, First FIN-SMART Roundtable on Financing Sustainable Maritime Transport, MABUX: Bunker Market this morning 30th October,2020, ICS Launches Online Classes For Shipping Professionals Worldwide, The CMA CGM CHAMPS ELYSEES joins the fleet: the second 23 000 TEU container vessel to be powered by liquefied natural gas, Guide for Carriage of Hazardous Materials, Subscribing I accept the privacy rules of this site, IMO’s global action to protect marine biodiversity, INTERCARGO.org: Crew Change – time is running out, The Panama Maritime Authority & COVID19 Measures, Here are 4 Signs the World is Embracing Natural Gas, Annual Report 2019 – A message from Remi Eriksen, Top 5 questions on maritime contracts and COVID 19. Be it the reversal rate or financial stability, those are real concerns, but my take is that on both of them, we are quite far from binding trade-offs,” Wunsch told Reuters.

Calendar of Pierre Wunsch - Member of the ECB’s Governing Council; Footer menu. topic/meeting participants, as applicable) Location Tuesday, 3 December Telco Steering Committee ESRB Brussels, Belgium Wednesday, 4 December “Right now, we are far from our objective. Established by the Treaty of Amsterdam , the ECB is one of the world's most important central banks and serves as one of seven institutions of the European Union , being enshrined in the Treaty on European Union (TEU). He said policy makers appear to agree on treating the inflation target symmetrically and he would fix it at 2%. Be it the reversal rate or financial stability, those are real concerns, but my take is that on both of them, we are quite far from binding trade-offs,” Wunsch added. “When one starts communicating before a meeting, others feel (they are) being pushed into a corner and will want to express themselves,” Wunsch said.

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