Britain's referendum vote to leave
the EU may have unpredictable consequences for the world economy
and presents "fresh difficulties" for the eurozone but "it is
premature to discuss any possible monetary reaction at this
stage," according to the minutes of the European Central Bank's
July 21 meeting, released Thursday.
The central bankers deem it necessary to have "more time to
assess the information coming in over the next few months,
although the risks have clearly increased".
Most economists continue to expect a six-month extension of
the ECB's bond-buying programme (quantitative easing, QE) when
the ECB's governing council meets on September 8, and the ECB
has said it is ready to act if necessary.
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