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ECB needed to give strong signal to combat low inflation: ECB’s Wunsch

“A majority in the Governing Council chose to give a strong signal instead of the risk of running behind events” writes Midwest Communications Inc for BRUSSELS (Reuters) – The European Central Bank’s interest rate cut and fresh bond purchases were needed to combat low inflation, Governing Council member Pierre Wunsch was quoted as saying on Monday in a newspaper interview.Then, the period of low interest rates could simply have lasted longer,” Wunsch, who heads the Belgian central bank, told De Standaard.With growth and inflation both slowing, the ECB cut rates deeper into negative territory last week and said it would start an open-ended bond purchase program to depress borrowing costs further.

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