FXStreet (Mumbai) - The European Central Bank (ECB) member Knot was on the wires today stating that the bank’s accommodative monetary policy (low interest rate, negative deposit rate and monthly QE program) increases risks of bubbles. Knot further added that the ECB must maximize effectiveness of its QE program. The bank currently purchases bonds worth EUR 60 billion per month. Off late the ECB policymakers have took turns in playing down the need to do more QE. For more information, read our latest forex news.