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ECB needs sustainable recovery before exiting crisis measures: Rehn

04/08/2021 | 05:21am EDT
Governor of the Bank of Finland, Olli Rehn attends a Reuters Newsmaker event in London

FRANKFURT (Reuters) - The European Central Bank needs to see a sustained recovery form a pandemic-induced economic downturn before exiting its crisis-fighting measures, Finnish central bank chief Olli Rehn told CNBC on Thursday.

"We are ready to recalibrate our purchases as needed and in that sense, I would be rather cautious in this regards as it is better to be safe then sorry and see that we genuinely have a sustained recovery in the economy before we move to the exit gear in terms of monetary accommodation," Rehn said.

"In this context, the best approach in monetary policy is simply to stay calm and stay the course," he added.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.44% 0.64172 Delayed Quote.2.33%
BRITISH POUND / EURO (GBP/EUR) -0.31% 1.15829 Delayed Quote.3.17%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.64% 0.658835 Delayed Quote.3.70%
INDIAN RUPEE / EURO (INR/EUR) -0.58% 0.011026 Delayed Quote.0.06%
US DOLLAR / EURO (USD/EUR) 0.07% 0.830986 Delayed Quote.2.08%
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