Economics and Policy ECB Policy Outlook

Q&A with Yves Mersch, ECB Executive Board Member and Vice Chair of the Supervisory Board

30 Oct 2020

"The Governing Council is in agreement that the ECB policy response will need to be recalibrated in December" says Yves Mersch, Executive Board member since 2012 and Vice-Chair of the Supervisory Board of the European Central Bank since 2019. There will have to be a discussion of the marginal efficiency of monetary policy instruments, particularly as some of them has been there for a prolonged time. 'Nothing is rules out, but nothing is a given', according to Mersch, who has been a member of the Governing Council for a record 22 years.

Yves Mersch spoke to Beat Siegenthaler of the UBS Knowledge Network on Oct. 30, 2020.

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The views expressed in this interview are those of the interviewee and do not necessarily reflect those of UBS.