ECB Praet says return to structural growth and employment cannot depend on monetary policy

ECB chief economist Peter Praet was on the wires today, emphasizing the need for reforms in order to achieve structural growth and full employment.

Key Quotes:

Return to structural growth and employment cannot depend on monetary policy

If further shocks were to materialise our measures could be recalibrated

If inflation has remained weak it is not because ECB policy has been ineffective