Factbox-ECB policymakers' comments at the IMF-World Bank annual meetings
- The European Central Bank cut interest rates for a third time this year last week and investors expect further reductions ahead as euro zone inflation stabilises at the ECB's 2% target and the economy stagnates.
"The risk of reducing too late our restrictive stance could indeed become more significant relative to the one of acting too quickly.""We should continue , the direction of travel is in my view clear." "We should return to a normal type of communication, that means concentrating on our reaction function ... and provide guidance in line with our medium term orientation.""We should keep going to neutral in measured steps."
"By lowering interest rates further, we’ll be at the upper limit of the neutral rate estimates. Once we get there, it may be appropriate to align our language on the need to keep rates restrictive.""We need to look at the incoming data, the trend in the data that we have been observing, and certainly 50 basis points can be on the table because we continue to be data dependent and the data we are getting points in that direction.
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