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ECB Noyer: QE needs time to bear fruit
Note: Noyer will be leaving the ECB ECBs Christian Noyer is being quoted in a German FAZ newspaper report: • Cautions against ECB actionism • Current QE program works well. • QE needs time to bear fruit. • Too early to draw a conclusion on QE after 6 months. Note that Noyer will be retiring next month. So his comments are not totally relevant with regard to ECB policy action.