• ECB READY TO FIGHT DEFLATION WITH ‘NONSTANDARD MEASURES’

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    BRATISLAVA: The European Central Bank (ECB) is prepared to combat deflationary risks threatening the recovery in the eurozone, Slovak central bank chief and ECB Governing Council member Josef Makuch said on Tuesday (Wednesday in Manila). “Several [ECB] policy makers are ready to adopt nonstandard measures to prevent slipping into a deflationary environment,” Makuch told journalists in Bratislava, without disclosing further details. Non-standard monetary policy measures indicates the central bank would use tools other than interest rates. The ECB’s key refi rate is at a record low 0.25 percent. “The ECB has many measures on hand, including putting more money into circulation. Their use depends on the situation. If the circumstances require more liquidity, then I have no reason not to support it,” Makuch said.
    AFP

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