ECB: Non-Standard Measures To Be Gradually Phased Out

FRANKFURT (MNI) – The European Central Bank’s non-standard monetary
policy measures are “temporary in nature” and “will be gradually phased
out in line with improvements in financial markets and economic
activity,” the ECB reiterated in its October Monthly Bulletin.

The ECB “will continue to closely monitor economic and financial
developments,” the bank underscored.

Some of the central bank’s more controversial non-conventional
moves, such as purchasing government bonds on the secondary market, have
come under increased scrutiny in recent days.

Governing council member Axel Weber said Tuesday that the program
should now be phased out “permanently.”

–Frankfurt bureau; +49-69-720142; tbuell@marketnews.com

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