ECB needs no stimulus measures right away, says CB policymaker

European Central Bank policymaker and the Slovenian central bank Governor Bostjan Jazbec said the central bank does not need further stimulus measures right away, since enough has already been done to bring the euro-area inflation to its target level. Jazbec’s comments indicated that officials are likely to keep the rates on hold in the coming months.

Inflation in the Eurozone has missed the target rate of two percent, defying the goal for more than three years and has not reached above zero since January. This has prompted the ECB's governing council to ramp up stimulus yet again in March.

According to a Bloomberg survey, economists feel the need for fresh stimulus measures before the end of the year. However, Jazbec said the existing basket of measures would suffice for the time-being.

"At the current juncture, I’d firmly confirm that the measures work and that we can only look forward to responding to everything that comes to our table," Bostjan added to his set of comments.

Meanwhile, the inflation projections published this month show the prices to hover around 1.6 percent, which is quite close to the central bank’s targeted rate. However, in an attempt to answer possible repercussions, he said there remains a lot that can be done at this moment, but not immediately.