FRANKFURT (Reuters) - The European Central Bank’s fresh stimulus measures are an adjustment to a new economic reality of slower but still robust economic growth, ECB board member Benoit Coeure was quoted on Monday as saying.
“We are adjusting to the new reality rather than reversing our course; we don’t see signs of a recession at present,” Coeure told Italian newspaper Corriere della Sera.
Coeure added that while it will take inflation longer to rise back to the ECB’s target of almost 2 percent, there is no need for now to restart bond purchases, commonly known as quantitative easing.
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Reporting by Balazs Koranyi; Editing by Kim Coghill