FRANKFURT Oct 4 The European Central Bank is
set to keep its interest rates low until it gets inflation back
to its target, the ECB's chief economist said on Tuesday,
arguing it was not up to the ECB to shore up bank profits.
"Very low interest rates will probably prevail for an
extended period of time," Praet told an event in Madrid.
"A durable improvement in the prospects of the euro area
banking system requires further efforts outside the realm of
monetary policy," he added.
"These include, most notably, a swift and stringent
completion of banking union and additional adjustments in the
banking sector towards greater cost efficiency and business
models that remain viable in the new regulatory and
(Reporting By Francesco Canepa)