Ahead of rate meeting, ECB's Lautenschlaeger sees very high hurdles to more ...
Credit: Reuters/Heinz-Peter Bader
European Central Bank (ECB) executive board member Sabine Lautenschlaeger delivers her keynote speech during the annual regulatory conference of Austrian markets watchdog FMA in Vienna September 30, 2014.
'According to the current situation, the threshold as I see it for taking further action is very high, particularly for large-scale purchasing programs,' she said in Berlin, speaking five days ahead of the ECB's next Monetary Policy Committee meeting.
Innovation in monetary policy was not a taboo, but must also not be an 'end in itself', she added.
The ECB has cut interest rates to practically zero and is readying more buying programs that could include government bonds - known as quantitative easing - to ward off the threat of deflation in the euro zone.
Vice President Vitor Constancio said this week the ECB could make a decision on government bond-buying in the first quarter if the economy did not improve.
The purchase of government bonds would be viewed extremely critically in Germany.
(Reporting by Andreas Framke Editing by Jeremy Gaunt)
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