ECB’s Asmussen deflects criticism over lack of monetary policy action

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Jörg Asmussen, a member of the European Central Bank's (ECB) executive board, has hit back at critics who say the central bank should be doing more to ease policy, arguing policies employed elsewhere cannot be applied to Europe.

Speaking at a conference in Washington, Asmussen said the comparison to the Federal Reserve and Bank of Japan, both of which have launched large quantitative easing (QE) programmes recently, was unfair. He said the ECB's mandate for price stability did not extend to QE

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