ECB will first unwind unconventional stimulus: Mersch

FRANKFURT (Reuters) - The European Central Bank will unwind unconventional monetary measures before taking action with conventional policy tools, ECB board member Yves Mersch said in a newspaper interview.

"We first take the non-conventional measures towards the exit," Mersch told Luxemburger Wort. "Only then will we consider the conventional ones."

"We set interest rates for the euro area as a whole. We are not yet ready at this stage to change interest rates."

(Reporting by Balazs Koranyi; editing by John Stonestreet)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Japan PM vows to pursue steps to encourage domestic investment by GPIF
• Taiwan must heed calls to share responsibility for 'collective defence', president says
• China suppressing Taiwan 'everywhere', vice president says of PNG pressure