MNI BRIEF: ​​Experience Must Guide Future Toolbox: BOI Franco

Playing down the chances of the introduction of any new innovative policy tools by the European Central Bank in December, Bank of Italy senior Deputy Governor Daniele Franco told the SUERF European Money and Finance Forum that experience gained in the last decade must guide what tools to retain in future.

"Unconventional policies adopted by central banks around the world in the last decade have proved effective, as a copious amount of evidence suggests," he said.

"Experience gained with the new monetary policy tools in the last decade must guide our choice of the unconventional instruments that central banks should retain in their toolbox. Undoubtedly, many of the instruments deployed in recent years will remain in use in the near future," Franco added.