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ECB Minutes Show Policymakers Debated Future Policy Stance, QE Withdrawal

The European Central Bank policymakers held preliminary discussions regarding the future policy stance and a gradual withdrawal of the massive stimulus during the September 6-7 policy session, the minutes of the meeting showed Thursday.

"Members had a very preliminary exchange of views about the future monetary policy stance and the considerations that might guide a recalibration of instruments and the transmission channels through which they shape financial conditions and the outlook for price stability," the minutes, which the ECB calls the accounts", said.

While there was broad agreement among policymakers that there was still the need for substantial monetary policy support to return inflation to 'below, but close to 2 percent', they were more confident that the price growth target would be achieved given the dissipation of deflationary risks and a stronger economy.

"A view was put forward that conditions were increasingly falling into place that would allow the intensity of monetary policy accommodation to be adapted and would provide an opportunity to scale back the Eurosystem's net asset purchases," the minutes said.

by RTTNews Staff Writer

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