- Says returning inflation to goal is primary mandate
- Must not judge TLTRO program on its own
- ECB not using Blackrock to buy ABS
- Monetary policy will be expansionary for a long time
- Exchange rate is important but not a policy objective
- Exchange rate is important for price stability and growth
- Unemployment situation in Euro area is serious
- Unemployment contributing to low inflation
- Policy side effects might be financial stability risks
- ECB monetary policy to diverge from US for a long time
- ABS may include residential purchases