It’s Time for the ECB to Put QE on Hold (Project-Syndicate)

Now that the European Central Bank has stoked expectations of additional monetary stimulus, there is a risk that interest rates will snap back upward if it doesn’t deliver at its meeting on September 12. But the ECB would be better advised to postpone any significant further policy loosening.

Stefan Gerlach is Chief Economist at EFG Bank in Zurich and a former deputy governor of the Central Bank of Ireland. He is also a former Executive Director and Chief Economist of the Hong Kong Monetary Authority and Secretary to the Committee on the Global Financial System at the BIS.


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