Policymakers must be complacent due to the strong growth momentum in the euro area as inflation is still not near its target, making it necessary to retain the ultra easy monetary policy, the European Central Bank Vice-President Vitor Constancio said on Monday.
"Positive developments should not lead to complacency," Constancio said in speech in Frankurt.
"Inflation, which is the core of our mandate, is still below our target after four years of growth supposedly above potential."
"We are not yet fulfilling our mandate and that is why monetary policy will have to continue to be very accommodative, assuring favourable financial conditions to foster growth and spur wages and prices," Constancio added.
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