July 7, 2014 / 11:07 AM / in 4 years

ECB's Coeure: policy to stay accomodative for "quite a long time"

PARIS, July 7 (Reuters) - The European Central Bank’s monetary policy is likely to remain accommodative for “quite a long time”, ECB executive board member Benoit Coeure said on Monday.

In an interview recorded last weekend and broadcast by French BFM Business TV on Monday, Coeure said what mattered in the euro zone was that governments continue to reduce debt and reform their economies to ensure lasting growth.

“Growth being very weak, it is clear that very accomodative monetary conditions are going to be necessary for quite a long time,” he said.

Asked about France specifically, Coeure said that he was not worried about the long-term fate of that economy as difficult economic reforms were underway and what counted was implementing what was announced. (Reporting By Brian Love; Editing by Nicholas Vinocur)

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