February 8, 2018 / 12:38 PM / in a year

ECB can live with spike in market volatility: Praet

European Central Bank executive board member Peter Praet speaks during a conference in Brussels, Belgium, May 19, 2017. REUTERS/Francois Lenoir

FRANKFURT (Reuters) - The European Central Bank “can live” with the recent spike in market volatility as long as it does not have repercussion on the stability of the financial sector, the ECB’s chief economist said on Wednesday.

“What happened the other day is fine, I don’t care. A big spike in volatility is fine, we can live with this,” Praet told a conference in Frankfurt, referring to a stock-market selloff earlier in the week.

“But we have to be sure that the financial stability consequences will be contained,” he added.

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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