 "ECB rates to remain low for an extended period")
European Central Bank interest rates will remain low "or lower" for an extended period of time, ECB policymaker member Benoit Coeure said on Tuesday as the bank's Governing Council prepares to meet next week.
"The Governing Council of ECB has been very clear in saying that rates ... will remain at the current level or lower for an extended period of time," Coeure said in a roundtable discussion in Gothenburg.
The council discussed cutting interest rates in July but decided against and instead said it would keep them at record lows for an "extended period" - the bank's first use of forward guidance, which it reaffirmed after its August 1 policy meeting.
Council members have since given mixed views on the prospect of a fresh cut in the main rate below 0.5 per cent. Coeure is a member of the six-man team of policymakers based in Frankfurt that forms the nucleus of the 23-member Governing Council.
The ECB holds its next meeting on September 5.
"The Governing Council of ECB has been very clear in saying that rates ... will remain at the current level or lower for an extended period of time," Coeure said in a roundtable discussion in Gothenburg.
The council discussed cutting interest rates in July but decided against and instead said it would keep them at record lows for an "extended period" - the bank's first use of forward guidance, which it reaffirmed after its August 1 policy meeting.
Council members have since given mixed views on the prospect of a fresh cut in the main rate below 0.5 per cent. Coeure is a member of the six-man team of policymakers based in Frankfurt that forms the nucleus of the 23-member Governing Council.
The ECB holds its next meeting on September 5.
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