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Need more time to assess impact of ECB measures -Eurogroup head
September 4, 2014 / 8:07 AM / 3 years ago

Need more time to assess impact of ECB measures -Eurogroup head

BRUSSELS, Sept 4 (Reuters) - More time is needed to assess the impact of the package of measures the European Central Bank unveiled in June to stave off the risk of deflation, the chairman of the Eurogroup of euro zone finance ministers Jeroen Dijsselbloem said on Thursday.

“The June package has not been given enough consideration in our analysis and results of that June package, including the TLTRO, the results are yet to take place. Let’s evaluate that as we go along,” Dijsselbloem told the European Parliament’s economic and monetary committee.

In June, the ECB cut interest rates to new lows and unveiled a four-year funding plan for banks -- so-called TLTROs -- the first tranche of which goes on offer on Sept. 18. It also said it would develop a plan to buy asset-backed securities (ABS). (Reporting by Martin Santa, writing by Philip Blenkinsop)

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