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ECB discussing swing to tightening mode

Source: Reuters - Fri 2th Oct 2009

European Central Bank policymakers are actively discussing the prospect of tightening the bank's ultra loose monetary policy, news agency Markets news reported on Friday, quoting a high up Eurosystem source.

"There is a lot of ECB Council discussion going on about moving towards a tightening bias" Market News quoted the source as saying, adding that he felt a rate hike was nowhere near imminent.

The agency said another Eurosystem source said some major central bank officials had even floated the idea of a co-ordinated rate hike, although only as a theoretical discussion.

It did not provide direct quotes to back up that line.

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