ECB's Liikanen: ECB to keep rates unchanged for longer to boost recovery

FXStreet (Łódź) - ECB Governing Council member Erkki Liikanen said on Monday that the central bank would keep its accommodative monetary policy stance for as long as necessary, in order to boost the recovery in the Eurozone.

"Owing to the high degree of unutilized capacity, ECB interest rates will remain at the present or lower levels for an extended period of time," Liikanen assured.

The ECB policymaker pointed out that confidence in financial markets and bank funding conditions improved in the Eurozone. He added that the upcoming bank review should strengthen that confidence further, although it might not solve all the problems in the sector.

The central bank is ready to act should the need arise, the ECB policymaker stressed.