Inflation is not recovering and wage growth is still weak - ECB's Smets

The European Central Bank should stick to its policy guidance even as the economy gains strength, ECB Governing Council member Jan Smets, told Reuters in an interview.

Key quotes (via Reuters)

• Those questioning ECB's guidance are in a minority
• Our forward guidance is clear and we have to stick to that
• We have made clear what we will do until the end of the year
• Steady hand' means we expect the monetary policy stance to remain as we decided, including interest rates, the purchase programme and the forward guidance
• The recovery alone is not reason enough for the ECB to reduce its monetary largesse