European Central Bank Executive Board Member Cipollone: Interest rate cuts should take into account quantitative tightening

According to a report by Golden Finance, Piero Cipollone, a member of the Executive Board of the European Central Bank, stated that the ECB's interest rate decisions should not overlook the tightening effect of past asset purchase programs on monetary policy. The Italian official stated at an event organized by MNI that while policy interest rates remain the main tool for adjusting the stance of the European Central Bank, the role of quantitative tightening in affecting the financial and financing environment - through yield curves or bank loans - should also be considered.