November 07, 2024 16:35 GMT
MNI BRIEF: ECB Needs To Wait To See Trump Act -Stournaras
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MNI (LONDON) - The European Central Bank should not change its policy approach “before we see declarations from the new [U.S.] president,” Bank of Greece Governor Yannis Stournaras said on Thursday.
There will be an impact on the exchange rate and European economy “will be weaker in the short term,” he said at an event in Athens.(See MNI INTERVIEW2: Trump Stagflationary For Eurozone-ECB's Wunsch)
However, recent positive Q3 economic data adds to optimism over the euro area. “The economy was weaker until some weeks ago,” he said, noting that this and new data would be taken to account for the ECB decision in December. (See MNI SOURCES: ECB Officials See Rate Expectations As Stretched)
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