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MNI (London)
By Chris Mc Innes
     FRANKFURT (MNI) - The June meeting would be the opportune time for the
European Central Bank's Governing Council to announce the end of the Asset
Purchasing Programme by the end of the year, Executive Board Member Sabine
Lautenschlaeger said Tuesday.
     Lautenschlaeger also said a first rate around the middle of 2019 was not
     Lautenschlaeger, speaking to a think tank in Frankfurt, stressed that the
economic outlook remained favourable, despite the softening pace of growth seen
this year. Unemployment is falling and wages are rising, she said.
     "So I believe that all we need is a bit of patience. All the conditions for
inflation to kick in are in place."
     "So, June might be the month to decide once and for all to gradually end
net asset purchases by the end of this year."
     "A first hike around the middle of 2019 is not entirely out of the
ballpark," she added.
     She also attempted to downplay the significance of the tapering
announcement, mirroring speeches from some of her colleagues on the governing
council. At the same time, she emphasized the significance of reinvestments of
existing stocks.
     "What I want to say is this: even when we end net purchases, monetary
policy will still be extraordinarily accommodative."
--MNI London Bureau; tel: +44 203-586-2225; email:
[TOPICS: M$X$$$,M$$EC$]
MNI London Bureau | +44 203-865-3812 |