In his recent speech, board member of the ECB Vitas Vasiliauskas recommended the policy to follow on coming out macroeconomic forecasts at the end of 2015, and then to make the right decision about the increase of pulses. "I think we need to wait for December, I have doubts that we will be ready in October," - believes Vasiliauskas, head of the Bank of Lithuania, in his interview in the UK yesterday, he also adds that in October, it is not worth discussing anything too, short period of time.
A number of negative factors puts pressure on markets. Very slow growth of consumer prices in the euro zone, the economic crisis in China, the growth of speculation in the background, whether the ECB will increase the quantitative easing program in early March, and so on. In his last speech on Wednesday, Mario Draghi, the ECB president, assured everyone that in case of deterioration of the prospects, he will act immediately. He also insisted on the fact that it needs time to calculate the risks.
Some comments Vasiliauskas do not fully coincide with statements of Draghi and other members of the Management Council. Speeches by Ewald Nowotny and Boshtana Yazbeck were not so categorical, compared with the plans of Mr. Vitas to postpone the discussion until December or even next year. On 22 October and 3 December the ECB will organize a scheduled meeting and will publish statistics on the revised economic indicators. Since the beginning of spring the ECB bought sovereign debts for 60 billion euros in form of securities and bonds, which are provided by assets. Draghi told the European Parliament that the program next year it can be changed towards increase, also it can be included new classes of assets.