ECB’s Vasiliauskas: Normalization will be an unprecedented and challenging process

Bloomberg out with comments from the European Central Bank (ECB) Governing Council member and Head of the Central Bank of Lithuania, Vasiliauskas, as he speaks at IMF annual meeting.

Main Points:

The low interest-rate environment has created risks to financial stability and "poses additional challenges for the effectiveness of monetary policy"

"The normalization of exceptionally accommodative monetary policy will be an unprecedented and challenging process with a longer-term perspective. This calls for enhanced vigilance among policy makers especially concerning the containment of potential spillover effects"