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Benoit Kere, who is part of the ECB's leadership, last week noted that the possibilities of the stimulating program of the European regulator are not endless. He also voiced concern about whether the regulator has the tools to cope with a possible crisis.
In his speech delivered during the conference in Lyon, Kerr also noted that the eurozone is in a favorable economic cycle, but it is not ready for the fact that at the end of this cycle it is waiting for a slowdown. Given the considerable debt burden of European countries' guidelines, the regulator may not be able to launch another asset repurchase program in the future.
He also warned that the current asset repurchase program has its own technical limitations, since the volume of European assets is much lower than that of American assets. However, the monetary policy of the regulator will remain as soft as it is now, even for a while even after the purchases are rolled back. The regulator has repeatedly said that he plans to maintain his balance by reinvesting the funds that he will receive from the bond redemption.