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Financials

ECB hoped for quicker boost from its stimulus: Constancio

FRANKFURT, Sept 23 (Reuters) - The European Central Bank had hoped that the euro zone economy would respond to its stimulus measures more quickly and is aware that low rates over a long period could raise financial stability risks, Vice President Vitor Constancio said on Friday.

“We all hoped that the reaction of the economy would have been much quicker as a result of the expansionary monetary policy we have put in place,” Constancio told a conference in Frankfurt. “It is taking longer than anyone expected.”

“We are aware that a low interest rate environment for a long period of time creates risks, risks in general to financial stability,” he added. (Reporting by Balazs Koranyi; Editing by Gareth Jones)

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