ECB’s Makhlouf: A rate cut is not the best tool to use in the current circumstances

“Our view has been that a rate cut is not the best tool to use in the current circumstances,” said the European Central Bank (ECB) policymaker and Irish Central Bank Governor Gabriel Makhlouf said on Friday.

Additional quotes

“Financial crisis emerging from covid-19 shock still a remote possibility, system resilient.”

“From my perspective, evidence has not changed today that governing council needs to make new decisions.”

“Nothing is off the table; we have a pretty big tool kit.”

“If economies closed up again, I’m not sure it would exactly be as bad as April or May.”