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ECB should clarify pace of rate hikes when time comes - Coeure

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ECB should clarify pace of rate hikes when time comes - Coeure
Benoit Coeure, board member of the European Central Bank (ECB), is photographed during an interview with Reuters journalists at the ECB headquarters in Frankfurt, Germany, May 17, 2017. REUTERS/Kai Pfaffenbach   -   Copyright  KAI PFAFFENBACH(Reuters)
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BERLIN (Reuters) – The European Central Bank should clarify the pace at which it intends to raise interest rates when the time for further policy tightening comes, ECB board member Benoit Coeure said on Monday.

“Should economic conditions warrant, there might be a case for the Governing Council to go beyond the timing to lift-off (rates) in further clarifying the pace at which it expects to remove policy accommodation,” Coeure told a conference.

“A further clarification of our reaction function might help market participants and the broader public to better anticipate the likely future path of short-term interest rates,” he added.

(Reporting By Francesco Canepa)

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