- Monetary policy should be gradual and, after a certain level of interest rates, should wait to analyse the effects as it takes time to produce results, the former vice-president of the European Central Bank, Vítor Constâncio.
- Constâncio spoke at the inaugural session of the programme of commemorations of the 25th anniversary of Portugal’s Association of Economists.
- On rising interest rates, he warned that the high level of public and private debt meant that significant increases in interest rates would create “significant risks” to financial stability.
Former ECB VP calls for gradual adoption of monetary policy
