Praet says ECB policy is working

Peter Praet

The unconventional monetary policy of the European Central Bank (ECB) is working despite the eurozone's failure to show a sustained recovery, Peter Praet said today (April 7).

Policy needed to be assessed "counterfactually" to form a true estimate of its effectiveness, the ECB executive board member told an audience in Frankfurt.

Policy-makers had to be careful not to assess monetary policy by "eyeing where certain key variables are today compared with the beginning of the policy and then

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