An essential condition for sustainable economic growth in advanced economies, mainly in the U.S. and the Euro zone, is the recovery of confidence. Therefore, these economies should invest their energy and political capital in pursuing macroeconomic stabilization in the short run through well designed and decisive measures.
We are resolute in our determination to maintain a high degree of monetary accommodation and to act swiftly if required. Hence, we do not exclude further monetary policy easing and we firmly reiterate that we continue to expect the key ECB interest rates to remain at present or lower levels for an extended period of time.