ECB in no hurry with new structural operations – Välimäki
Portfolio will first need to be reduced ‘considerably’, says bank's alternate board member
The European Central Bank will wait until its monetary policy portfolios are reduced “considerably” before introducing its new structural operations, a member of the Bank of Finland’s board has said.
In a speech at Danske Bank’s markets conference in Copenhagen on November 26, Tuomas Välimäki said the ECB was waiting until “floor-required excess liquidity” (Frel) had been reached among eurozone lenders. Frel, he said, would correspond to the amount of central bank reserves needed to keep short
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