March 14, 2018 / 7:39 AM / 8 days ago

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.

Yves Mersch, Member of the Executive Board of the European Central Bank presents an oversized newly unveiled 10 euro note at the headquarters of the European Central Bank (ECB) in Frankfurt, January 13, 2014. REUTERS/Ralph Orlowski

“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.”

Reporting by Balazs Koranyi; editing by John Stonestreet

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