‪ECB Interest Rate Cut, "Wise Decision"‬

IESE Global Alumni Reunion 2013


The surprise move by the European Central Bank to cut its benchmark interest rate to a record low of 0.25% was a wise decision, believes José Viñals of the IMF, speaking at the IESE Global Alumni Reunion 2013. While there still need to be structural reforms and fiscal consolidation, Viñals says the pace of recovery will be a marathon, not a sprint.