Bloomberg News

ECB’s Stark Says Permanent Bond Purchases ‘Not An Option’

November 04, 2011

Nov. 4 (Bloomberg) -- European Central Bank Executive Board member Juergen Stark said a permanent ECB bond purchase program “is not an option.”

Stark told reporters in Frankfurt today that the central bank’s current government bond purchase program is “temporary and for a transitional period only.”

Asked about whether the ECB would cut rates in December, he said yesterday’s decision was “pre-emptive” and that officials “anticipated a further deterioration” in the economic outlook “over the next couple of weeks.”

To contact the reporter on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net

To contact the editor responsible for this story: Gabi Thesing at gthesing@bloomberg.net


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