Speaking at an event in London, ECB governing council member Constancio noted that the central bank’s monetary policy should remain expansionary.

Key Quotes:

Besides the ECB’s determination to pursue its expansionary policies, other actors need to do their part

Uncertainties remain and further bouts of volatility cannot be precluded

ECB will continue to do what is necessary to achieve its goal of reaching a level of inflation close to 2% and enough policy tools can still be used

We have to allow some time for the package of measures adopted in March to produce its effects

We will also monitor external developments closely

Expects recovery in global economy to gather momentum as headwinds dissipate but there are many factors which could potentially derail it

The Eurozone recovery is subject to fragilities