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ECB's Mersch says does not see logic of rate cut debate
December 17, 2012 / 5:11 PM / 5 years ago

ECB's Mersch says does not see logic of rate cut debate

BERLIN, Dec 17 (Reuters) - European Central Bank policymaker Yves Mersch told a newspaper he did not see the logic of a debate about a further rate cut from the current record low because unconventional tools were working better than conventional monetary policy.

“At the moment we are doing monetary policy above all with unconventional measures because these are working better,” the ECB executive board member told German paper the Frankfurter Allgemeine Zeitung. “This is why I do not really understand the discussion about a rate cut.”

The ECB kept interest rates on hold earlier this month, but Governing Council members held “a wide discussion” about cutting interest rates from their current record low of 0.75 percent. (Reporting By Sarah Marsh; Editing by Noah Barkin)

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