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ECB’s Vujcic emphasizes gradual transition in monetary policy, downplays recession risks

ECB Governing Council member Boris Vujcic emphasizing that a “smooth transition” in monetary policy is more important then the timing of the first rate cut. Also, he’d prefer to move in smaller steps.

“April or June doesn’t really make much of a difference for the economy,” he stated, “I think it’s more important that we achieve a kind of smooth transition.”

Vujcic also expressed a preference for gradual rate adjustments, favoring 25 basis point moves as opposed to larger steps. Additionally, there would be some “pauses” in between every rate move.

Regarding the economy, Vujcic said, “the risk of a recession in the euro zone is getting smaller and smaller”, projecting an upcoming phase characterized by modest economic growth coupled with further disinflation.

 

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