IMF backs ECB’s looser stance

Photo: Henrik Gschwindt de Gyor/IMF

The International Monetary Fund says monetary policy in the euro area should remain accommodative until inflation converges with target.

In the Article IV consultation published on July 10, IMF directors also pointed out the low profitability of the banking sector. Nevertheless, they welcomed increased capital buffers and the reduction of non-performing loans. Directors urged policy-makers to complete the monetary union, encouraging them to agree on a common deposit insurance scheme.


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