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Monetary policy must stay very accommodative - ECB's Constancio
October 20, 2014 / 12:32 PM / 3 years ago

Monetary policy must stay very accommodative - ECB's Constancio

LONDON, Oct 20 (Reuters) - Euro zone monetary policy needs to remain very accommodative, ECB Vice President Vitor Constancio said on Monday, and called for the central bank to be given new powers to tackle unregulated part of the banking markets.

“We are in a situation of low inflation and low growth in the euro zone, monetary policy needs to be very accommodative,” said at an event at London think-tank Chatham House.

He adding that “new instruments” were needed to give more control outside the more traditional banking sector as it takes up its new role as a pan-European supervisor.

Reporting by Marc Jones

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