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ECB not yet ready to 'normalise' policy: Praet
March 15, 2017 / 10:32 AM / 9 months ago

ECB not yet ready to 'normalise' policy: Praet

FRANKFURT (Reuters) - The European Central Bank is not yet in a position to end its extraordinary stimulus policy despite an improvement in the growth outlook, so it is keen to temper market expectations for higher rates, ECB chief economist Peter Praet said on Wednesday.

European Central Bank executive board member Peter Praet attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid, Spain, May 25, 2016. REUTERS/Susana Vera

“You have to be very careful when people start talking about regime change or normalisation,” Praet told a business conference in Frankfurt. “We’re not yet there. We’re seeing things improving and we have acknowledged that.”

“We don’t want the markets to overshoot,” Praet added.

Reporting by Francesco Canepa; Writing by Balazs Koranyi

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