MNI BRIEF: No Quick PEPP Reinvestment Decision- ECB's Holzmann

The ECB Governing Council is yet to formally discuss how to reduce its balance sheet and while informal talks have taken place, a final decision is only likely to come next year with the finalisation of the ECB’s strategic review of its operational framework, Austrian National Bank governor Robert Holzmann told MNI and others Monday. (see MNI INTERVIEW2: ECB To Discuss PEPP Reinvestment In Dec-Vujcic).

“My optimistic understanding is that the problem is well defined; that there needs to be a solution,” he explained. What I proposed is one solution, there may be others, I don’t know. I’m looking forward to the [suggestions of] much more senior people with experience of other solutions," he said.

“But for this we need to have first a discussion about our operational framework, which we have not fully started yet, and this will take some time.”