ECB's Coeure says inflation is not yet "where we want it to be"
ECB member Benoit Coeure speaks on France's BFM business TV
- Eurozone growth is strong and well-distributed
- Sees short-term interest rates staying at very low levels after QE ends
- Too early to declare victory on Eurozone growth
- Growth is too dependent on monetary policy
- Says that cost of labour is not a major problem in France
- Says that Eurozone's north-south divide is imaginary
- Trade war is the major threat right now
Nothing too significant from Coeure, reiterating the same stance that we've come to learn from the ECB in that rates will still remain in place for some time until after QE ends.
Slips in a comment on the trade rhetoric as well. Concerns of a trade war are starting to ease and we've even seen Australia get an exemption, but it's unlikely we'll see the same for the EU - unless Trump has a change of heart.