Downside risks to the economic activity in the euro area may be increasing, European Central Bank (ECB) Executive Board member Fabio Panetta asserted on Wednesday, APA-Economics reports.
Delivering remarks at an event hosted by Sciences Po School of Management and Innovation and Fondation Robert Schuman in Paris, Panetta warned that a premature tightening of the monetary policy could lead to a "prolonged recession."
In regard to inflation-related worries, he noted that, "for monetary policy today, patience is the most courageous form of action."
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