ECB's Coeuré: A sustained convergence of inflation to levels closer to ECB's aim is in sight

Benoit Coeuré, a member of the ECB's executive board, during a scheduled speech this Monday, was noted saying that there might be a case to extend forward guidance beyond the timing of liftoff and that may happen should economic conditions warrant such a case.

Additional quotes:

   •  ECB could further clarify the pace at which it expects to remove policy accommodation.
   •  Risks of publishing a precise numerical forecast of the future path of policy rates are, however, likely to outweigh the benefits.
   •  A further clarification of reaction function might help market participants better anticipate the likely future path of short-term interest rates.
   •  Uncertainty around inflation outlook is receding and a sustained convergence of inflation to levels closer to ECB's aim is in sight.