Asmussen (ECB): For us in euro area it is too early to start the exit

ECB Asmussen in his speach pleaded in favour of publishing Minutes of ECB meetings. In contrast to the view of Mr. Draghi, Asmussen said the Minutes should reveal each member’s position in the debate. It shows that while the Executive Council is in favour of publication of the Minutes, they still have different opinions on the exact form of such Minutes. A proposal will be submitted to the Governing Council in the near future. On the success of forward guidance, Asmussen was balanced. It reduced volatility in market rates, but it had only been modestly successful in curbing overreactions. On current policy stance, he echoed Mr. Draghi saying the ECB is ready to act if Eurozone conditions should worsen. He added, “to be clear: for us in the euro area it is too early to start the exit”.