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ECB needs sustainable recovery before exiting crisis measures: Rehn

Reuters
·1-min read
Governor of the Bank of Finland, Olli Rehn attends a Reuters Newsmaker event in London

FRANKFURT (Reuters) - The European Central Bank needs to see a sustained recovery form a pandemic-induced economic downturn before exiting its crisis-fighting measures, Finnish central bank chief Olli Rehn told CNBC on Thursday.

"We are ready to recalibrate our purchases as needed and in that sense, I would be rather cautious in this regards as it is better to be safe then sorry and see that we genuinely have a sustained recovery in the economy before we move to the exit gear in terms of monetary accommodation," Rehn said.

"In this context, the best approach in monetary policy is simply to stay calm and stay the course," he added.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)