ECB policy still accommodating says Bini Smaghi

ECB board member Lorenzo Bini Smaghi said Saturday 27 January in a speech in Milan that current eurozone interest rates are still "accommodating" and will continue to be so in the coming months.

Bini Smaghi said current interest rates do not represent a brake on economic growth.

"In a medium term perspective, inflation is seen hovering around 2 pct," he said.

"An increase in growth, if sustained over time, requires an adjustment in monetary conditions," he said.

Bini Smaghi said the eurozone e