Risks of ECB policy have to be closely monitored - Praet

COLOGNE, Germany (Reuters) - The risks associated with the European Central Bank's ultra-easy monetary policy have to be closely monitored after years of economic expansion, the ECB's chief economist Peter Praet said on Tuesday.

"Patient, prudent and persistent monetary policy is still needed," Praet said. "At the same time, and in particular at this stage of the monetary policy cycle, the risk channel of our policy has to be closely monitored."

(Reporting By Balazs Korany; Writing by Francesco Canepa in Frankfurt)