ECB's Rate Decisions Should Consider Impact Of Past Asset Purchases

According to Odaily, European Central Bank (ECB) Executive Board Member Piero Cipollone emphasized that the ECB's rate decisions should not overlook the tightening effects of unwinding past asset purchase programs on monetary policy. Speaking at an event organized by MNI, the Italian official highlighted that while policy rates remain the primary tool for adjusting the ECB's stance, the role of quantitative tightening in influencing financial and lending conditions—through the yield curve or bank loans—should also be taken into account.