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Financial News: ECB's Coeure Says Growth Policies Independent Of Monetary

ECB's Coeure Says Growth Policies Independent Of Monetary Policy Needed

11/09/2017 - 09:28:00 (RTTNews)

(RTTNews) - There is an urgent need for having growth policies that are not entirely based on monetary policy as interest rates cannot remain low for long, European Central Bank Executive Board member Benoit Coeure said Thursday.

"The longer the rates stay low, the more these [financial stability] risks will exist", Coeure said in an interview to the broadcaster France Info TV, the text of which was published on the ECB website.

"This shows the urgency of having growth policies that are not essentially based on monetary policy."

Such policies would not create risks to financial stability, the policymaker said.

There are no financial bubbles in the Eurozone at present, but only small signals of concern, Coeure said.

He cited the sharp rise in corporate debt in France as an example.

However, this would not prompt the ECB to withdraw its monetary policy support, Coeure added.

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