ECB executive board member Benoît Cœuré comments from his speech crossing the Bloomberg now:

  • Economic recovery remains subdued
  • ECSB primary objective is to maintain price stability
  • ESC measures have restored bank lending channel

Cœuré is speaking in Mexico City

(If you're thinking there isn't much here to surprise us or move the markets ... right you are)

-

Note: ECSB is the European System of Central Banks (ESCB)

  • Its the European Central Bank and the national central banks of all 28 European Union member states

-

More:

  • Commodity prices explain much of the CPI deviation from 2%
  • ECB wants medium-term CPI expectations close to 2%
  • ECB studying persistence of low energy price CPI impact
  • Downside CPI risks could warrant more monetary policy steps