Benoit Coeure speaking on BFM radio
- ECB seeks to protect the Eurozone from being the victim of a global slowdown
- Eurozone recovery is confirmed
- ECB's policies are working
- Recovery is primarily driven by ECB action a low oil prices
- We will do more if we need to get inflation higher
- Europe needs reform to bolster long term growth
Obviously Europe is going to bust the current global trend of weaker growth, purely down to what the ECB is doing.
Ok, you can stop laughing now
- Further easing is possible in March
- We are thinking about which and how much assets we buy
- We do not act under market pressure
- France must continue reform in pre-election year
- France is one country where unemployment isn't falling
- ECB is watching for bubbles but doesn't see any at the moment
- Low rates will last as long as necessary
Probably not new news but it's the first we've heard about what the ECB are thinking in terms of a future move. Given that they just cast their QE net wider last time, it could be that we see a similar move next time, rather than an actual increase in QE
