ECB’s Trichet rejects view of Weber on bond buying
Share Sunday 17 October 2010 11:04 pm More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Show Comments ▼ Tags: NULL whatsapp whatsapp KCS-content ECB’s Trichet rejects view of Weber on bond buying EUROPEAN Central Bank (ECB) president Jean-Claude Trichet has taken issue with recent comments on ECB policy by Bundesbank chief Axel Weber, saying they did not represent the views of the central bank’s governing council.In an interview with an Italian newspaper yesterday, Trichet said the governing council as a whole did not agree with Weber’s remark last week that the ECB’s government bond-buying programme had not worked and should be scrapped.“No! This is not the position of the Governing Council, with an overwhelming majority,” he said, according to an English transcript of the interview published on the ECB’s website. “This non-standard measure, like all other such measures, was designed to help restore a more normal functioning of our monetary policy transmission mechanism. And we are withdrawing all the liquidity, euro for euro, that is supplied through this programme,” he said.He also struck a less hawkish note on interest rate policy than Weber, an influential member of the governing council and one of the top candidates to take over when Trichet’s own ECB term expires next year.