Volker Wieland recommends the ECB to be more transparent ("Neue Zürcher Zeitung")

According to Volker Wieland, the end of the European Central Bank's (ECB) net bond purchases does not mean a turnaround in monetary policy. In an interview with the Swiss daily, he asked for a monetary tightening and more transparency.

In Wieland's opinion, monetary policy in the euro area is still expansionary and, thus, in a crisis mode. However, economic growth had exceeded potential. Therefore, it had been high time for the ECB to end net purchases in December. The ECB's announcement to let interest rates unchanged over the summer of 2019 had meant a further easing of monetary policy, according to Wieland.

He would appreciate a higher transparency on the ECB's side. Also the German Council of Economic Experts proposed in its latest report that the members of the ECB Governing Council could regularly participate in a survey regarding their expectations on the development of inflation, economic growth and unemployment.

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