ECB’s Asmussen says do not believe the ECB’s OMT program will lead to inflation

ECB’s Asmussen says do not believe the ECB’s OMT program will lead to inflation

Says:

– We should proceed as quickly as possible with joint banking supervision, but more important to do it properly as opposed to rapidly.

– Legal foundation of Eurozone banking supervision should be in place from the beginning of next year.

– Monetary policy and banking supervision must be clearly separated.


Update details:

– The comments on banking supervision come in line with the German stance that a full scale banking supervisor will take time to establish. Asmussen’s comment that monetary policy and banking supervision should be clearly separated suggests that the ECB still has some way to go towards obtaining the resources necessary in order to supervise the some 6,000 Eurozone banks.

Print

14:00 –
ECB

– Source:

Newswires

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ECB’s Asmussen says do not believe the ECB’s OMT program will lead to inflation
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