Group 1 - The core viewpoint expressed by Luis de Guindos, Vice President of the European Central Bank (ECB), is that the current appreciation of the euro is not rapid or extreme, and even if the euro to dollar exchange rate remains at 1.15, it will not pose a significant obstacle to the ECB achieving its inflation targets [1][2] - De Guindos indicated that the risks related to inflation are balanced, with limited risks of the inflation rate falling below the target, and that the current inflation rate is very close to the target [1] - He discussed the impact of tariffs on economic growth and inflation, noting that in the medium term, tariffs will reduce both [1] Group 2 - The ECB has learned lessons from its past aggressive quantitative easing policies, which totaled €5 trillion (approximately $5.8 trillion), and is now more cautious about the potential side effects of loose monetary policy [2] - De Guindos emphasized that while all tools will remain available in the toolbox, there is a clearer understanding of their potential downsides, reflecting a prudent approach to future monetary policy implementation [2] - The ECB is re-evaluating its long-term strategy and policy toolset, including large-scale bond purchases and negative interest rate policies that were implemented due to a decade of low inflation [1][2]
欧洲央行反思量化宽松政策 关注未来货币政策副作用
Xin Hua Cai Jing·2025-06-16 06:05