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Longer ECB bond buys anchor short-term rates - Praet

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11/06/2017 | 09:44am CET
ECB executive board member Praet speaks during conference in Sofia

The European Central Bank's decision to extend asset purchases was warranted by weak inflation and reinforces its guidance to keep rates at their current level for an extended period of time, ECB chief economist Peter Praet said on Monday.

"The longer horizon also anchors short-term interest rate expectations for a longer period, thereby reinforcing the Governing Council’s forward guidance on policy rates," Praet told a conference.

"Retaining the option to re-calibrate (asset purchases) if warranted is consistent with the forward guidance."

(Reporting by Balazs Koranyi; Editing by Robin Pomeroy)

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