ECB Constancio: Eurozone Monetary Policy Needs to Stay Accommodative

Vitor Constancio, vice president of the European Central Bank, said Thursday that economic recovery in Europe remains “gradual and moderate,” underscoring the need for loose monetary policy in the eurozone for the foreseeable future.

“Monetary policy has to remain accommodative with low interest rates,” Mr. Constancio said, adding that “getting Europe growing again is one of the most important challenges we face at present.”

But Mr. Constancio also highlighted the importance of being aware of the limitations of monetary policy, in remarks at a conference hosted by the Levy Institute.

Read more: http://blogs.wsj.com/economics/2015/04/16/ecb-constancio-eurozone-monetary-policy-needs-to-stay-accommodative/