ECB will first unwind unconventional stimulus: Mersch

FRANKFURT (Reuters) – The European Central Bank will unwind unconventional monetary measures before taking action with conventional policy tools, ECB board member Yves Mersch said in a newspaper interview.

“We first take the non-conventional measures towards the exit,” Mersch told Luxemburger Wort. “Only then will we consider the conventional ones.”

“We set interest rates for the euro area as a whole. We are not yet ready at this stage to change interest rates.”

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