- A gradual, step-by-step approach through 25 bps rate reductions is the most prudent strategy
- A more aggressive monetary easing would require a dramatic shift in conditions to justify it
- Europe's economic malaise is largely structural and demands solutions that extend beyond the remit of monetary policy
It's been a while since they took a jab at lawmakers in having to fix the region's economic woes, so this is a timely reminder. As for his policy remarks, they are consistent with what his peers have been preaching since last week.
