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ECB Rejects Role as Fiscal Clean-Up Tool, Says Sleijpen
ECB Rejects Role as Fiscal Clean-Up Tool, Says Sleijpen
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BTCCSquare news:
ECB governing council member Olaf Sleijpen has drawn a clear line on central bank intervention, stating the Transmission Protection Instrument won't bail out fiscally irresponsible governments. "Some things really should be resolved by politicians themselves," he told reporters, dismissing notions of monetary policy as a cure for budgetary failures.
The Dutch central banker, who succeeded Klaas Knot in July, rejected ideological labels while emphasizing price stability as his sole mandate. Inflation dynamics remain uncertain, with Sleijpen citing potential downside risks from economic softening or euro appreciation, countered by energy price pressures and unknown impacts of US trade policies.
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