ECB exit from accommodative policy still far off: Coeure

LONDON (Reuters) - The European Central Bank is far from exiting its accommodative monetary policy and will keep an open mind about fresh measures, which it can still deploy if needed, ECB policymaker Benoit Coeure said on Tuesday.

Coeure's remarks show the ECB is not ready to follow the example of the U.S. Federal Reserve, the first of the world's major central banks to lay out a plan for exiting its ultra-loose monetary policy.

"The various non-standard measures that have been introduced by the ECB to support monetary policy transmission in certain market segments will stay in place as long as necessary, and there are other measures, standard and non-standard, that we can deploy if warranted," Coeure said in the text of a speech for delivery in London.

"Therefore, at the current juncture, there should be no doubts that our 'exit' is distant and our monetary policy is and will remain accommodative."

The ECB left interest rates unchanged at a record low of 0.5 percent earlier this month and said it had discussed a raft of other policy options it could take if the euro zone economy does not emerge from recession later this year.

Coeure, a member of the ECB's Executive Board, said the central bank "will look with an open mind at standard and non-standard monetary policy tools if warranted by the outlook for price stability."

(Writing by Paul Carrel)

Source: http://news.yahoo.com/ecb-exit-accommodative-policy-still-far-off-coeure-081250652.html

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