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De Guindos Says QT a New Experience For The ECB

ECB
  • Q: GC member De Guindos has admitted the ECB was unaware of the consequences of QT as it lacks prior experience, have you discussed the possible impact? We've seen the ECB increase its warnings about banks' bullishness on the outlook, but isn't the ECB also being overly optimistic?
  • A from VP de Guindos on banks: We shouldn't be blinded to banks' short-term improvement in profitability. We project fin conditions tightening, this will have an impact on European banks; simultaneously a slowdown in the economy will have an impact on clients' solvency. It's a cautious approach.
  • And from de Guindos on balance sheet: QT is a new experience for us, a new tool for the ECB in that respect. Will have to be predictable and measured and prudent in implementation.
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