ECB: Accounting rate reduction will not support European industrial sector

ECB: Accounting rate reduction will not support European industrial sector
# 19 January 2013 13:42 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Accounting rate reduction by European Central Bank will not support European industrial sector, said the member of ECB Governing Council Benua Kerr.

He says reduction of accounting rate is not an assistance considered as support to industrial sector: “It’s clear that, the companies operating in industrial sector want currency to be lower, because of this simplifies the export. But, at the same time, this makes the export up”.

Kerr noted that ECB has certain resources and instruments to reduce the liquidity in the market, but it’s not time to do that.

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