ECB's Praet: ABS program aimed at creating sizable easing impact

FXStreet (Łódź) - ECB Executive Board member Peter Praet commented on the central bank's policy action on Thursday, including rate cuts and introduction new measures, which he expects to have a considerable impact on the Eurozone economy, when combined with the TLTRO program.

Praet confirmed that the Governing Council members were not unanimous on the scope end timing of changes in policy, but they all expressed worries with the recent poor data coming from the euro area.

Furthermore, Praet called for increased labor market reform efforts in Italy and added that "monetary policy does not solve structural problems," but that it can only buy time.