Below are some key takeaways from the speech delivered by Benoît CÅ“uré, Member of the Executive Board of the ECB, at a conference on “Exiting Unconventional Monetary Policies”, organised by the Euro 50 Group, the CF40 forum and CIGI, Paris, 26 October 2018.
- Policymakers have been able to pursue their domestic objectives without sending shock waves across global financial markets.
- In an integrated global financial market, central banks need to calibrate their policies according to their domestic mandates.
- In the euro area, this means that significant monetary policy stimulus is still needed to support the further build-up of domestic price pressures and headline inflation developments over the medium term.
- This support will continue to be provided by the net asset purchases until the end of the year.
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