ECB's Mersch: longer we remain in low interest rate enviroment, the stronger the side effects will be
- monetary policy alone can't boost growth potential
- if we see price stability objective at risk, we must act
- ECB is keeping a very close eye on effects that low or negative interest rates have had on banks and savers
- longer the measures are in place, the less effective they may become
- ECB should largely achieve its inflation goal in 2019