ECB very close to crossing into fiscal policy, has safeguards: Coeure

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September 19, 2019 6:59 AM EDT

FILE PHOTO: Benoit Coeure, board member of the European Central Bank (ECB), is photographed during an interview with Reuters journalists at the ECB headquarters in Frankfurt, Germany, May 17, 2017. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT (Reuters) - The European Central Bank has come close to trespassing into fiscal policy with some of its bond-buying programs since the start of the financial crisis but it has put safeguards in place to ensure it doesn't cross that line, ECB board member Benoit Coeure said on Thursday.

"Down this journey we’ve been sometime venturing close, even very close to the line between monetary and fiscal policy," Coeure said at an academic event in Frankfurt. "We were mindful of it and we’ve designed... safeguards to make sure we don’t cross that line."

(Reporting By Francesco Canepa; Editing by Balazs Koranyi)


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