ECB's Villeroy: We will have 'obligation' to keep rates low for a long period of time

Further comments on the day by ECB governing council member Villeroy

• Only major risks would justify more radical ECB tools
• Inflation to stay very weak for a long time after the crisis

Even if the economic damage will not largely be permanent, central banks all over the world cannot risk weaning the global economy off the life support offered during this time. It is going to take many years before we start to see things change, especially on inflation.