By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Dimitar Radev said on Friday that the risks of delaying monetary policy action could outweigh those of moving earlier.

Speaking at an event in Reykjavik, Radev, who heads the Bulgarian National Bank, said that “[t]he trade-off at this stage is not symmetric when there is a risk that inflation expectations could become less firmly anchored.“

He added that “[t]he cost of acting too late can exceed the cost of acting somewhat earlier.”

Radev also said that monetary policy could not be the only game in town, with structural reforms as well as fiscal policy, investment and energy-efficiency measures also necessary to strengthen economic resilience.