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ECB's Mersch warns against double counting as decision looms - Metro US

ECB’s Mersch warns against double counting as decision looms

Yves Mersch, Member of the Executive Board of ECB, speaks during an economics conference in Linz

FRANKFURT (Reuters) – The European Central Bank must avoid double counting information as it parses economic data, including the euro’s exchange rate, to prepare for next week’s policy decision amid a second wave of coronavirus infections, ECB board member Yves Mersch said on Monday.

“Looking ahead, in the current environment of elevated uncertainty the ECB Governing Council will assess incoming information very carefully, including developments in the exchange rate, while ensuring that this incoming information is only accounted for once in our assessment,” Mersch said without elaborating.

(Reporting By Francesco Canepa; Editing by Jon Boyle)

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