ECB's Makuch: It's not necessary to consider further easing at this point

ECB board member and Slovakian central bank governor, J. Makuch crossed the wires last minutes, noting that further ECB easing is not required at present.

Key Quotes:

It's not necessary to consider further easing at this point

Interest rates can still be lower and we are now testing how low we can go

If further stimulus needed becomes necessary it should focus more on unconventional measures rather than rate cuts

Unconventional tools are the new normal

Pipeline measures haven't had time to do their job yet

Models indicate ECB measures will have desired effect