ECB Governing Council member Pablo Hernandez de Cos told Spanish news paper La Razon that inflation is foreseen to stay well below target. Recent appreciation in Euro’s exchange rate means there is “no room for complacency”. Significant monetary stimulus should stay in place.

He added that it’s crucial to stay flexible with the execution of quantitative easing program to avoid fragmentation in the financial markets. Also, more actions should be made should they be needed.

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