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Constancio Says ECB Stands Ready To React To Downside Shocks

The European Central Bank's monetary policy stance is appropriate and a reassessment is not warranted at this stage, though the bank stands ready to act when required, ECB Vice-President Vitor Constancio said Monday.

"We continue to stand ready to react to downside shocks," Constancio said while presenting the ECB Annual Report to a European Parliament Committee in Brussels.

"While cyclical conditions have improved, we still need to address, without delay, the legacy of the crisis and reinforce the structural underpinnings of our Union," he said.

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