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Too early to talk about cutting ECB purchases further: Praet
April 7, 2017 / 6:48 AM / 8 months ago

Too early to talk about cutting ECB purchases further: Praet

FRANKFURT (Reuters) - It is premature to talk about any further reduction in the pace of the European Central Bank’s bond purchases and current information does not point in that direction, the ECB’s chief economist, Peter Praet, said in a CNBC interview.

FILE PHOTO: European Central Bank executive board member Peter Praet attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid, Spain, May 25, 2016. REUTERS/Susana Vera

“It is premature to have that question (about further reducing the pace of buying),” Praet told the TV station according to a corrected transcript of the interview.

“We will have a Governing Council meeting to make that assessment. On the basis of today’s information, we are not concluding in that direction.”

The ECB reduced its monthly purchase volume from 80 billion euros ($85.17 billion) to 60 billion euros from this month and has repeatedly said it expects to keep the current buying pace at least until the end of the year.

Reporting By Francesco Canepa; Editing by Amrutha Gayathri

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