Constancio: There is still a need for monetary stimulus

Vitor Constancio, deputy governor of the European Central Bank, said:
•    We have not yet done what we are authorized to do, so monetary policy will remain very accommodative.
•    The euro zone is achieving a large-scale, resilient, and strong economic recovery.
•    The risks of financial stability seem to have been contained.
•    Business confidence is currently at its highest level in 10 years.
•    The ECB should continue buying bonds because inflation remains weak despite the economic recovery.
•    Eurozone core inflation is expected to rise gradually in the medium term, supported by monetary policy measures.
•    High levels of public and private debt leave some euro zone countries vulnerable to negative shocks.