ECB council member says plans for liquidity in place until March

THE European Central Bank has already made all the important decisions regarding its liquidity measures through until the end of March, ECB governing council member Axel Weber was quoted as saying on yesterday.

Weber said inflation risks in the euro zone are only slight and that the interest rates are appropriate. “In December we conducted the last 12-month tender, which was indexed instead of a fixed interest rate, and the last 6-month tender will be in March,” Weber said. “With those decisions, we have, in my mind, made all the necessary decisions for the first quarter.”

The removal of measures supporting the financial markets will be orderly, gradual and continuous, Weber added, but added the steps depend not on timing, but on the recovery of financial markets.