TALLINN European Central Bank stimulus measures take time to impact the real economy but this does not necessarily mean that even more stimulus is required, Governing Council Member Ardo Hansson told Reuters on Wednesday.
"We can't expect that there would be a very quick transition from monetary policy decisions to inflation," Hansson said on the sidelines of a news conference. "We believe generally that the real economy is firming up and if we believe in these measures, then we should be just a bit more patient."
"We don't necessarily need to think that more measures are necessary. They will work their way through the system," Hansson, Estonia's central bank chief, said.
He added that when assessing the impact of the ECB's work, the accumulated stock of stimulus must also be considered, not just the fresh impulses.
(Reporting by David Mardiste; Writing by Balazs Koranyi; Editing by Hugh Lawson)