October 2, 2017 / 4:32 PM / in 18 days

ECB's forward guidance has been 'reiterated': Praet

LONDON (Reuters) - The European Central Bank has “reiterated” its forward guidance, the bank’s chief economist Peter Praet said on Monday.

European Central Bank executive board member Peter Praet attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid, Spain, May 25, 2016. REUTERS/Susana Vera/Files

Speaking at an economics conference in London, Praet added the ECB’s job wasn’t done despite the euro’s economic recovery and that a smooth exit from crisis-era policies would only be possible if it kept a tight grip on short-term market rates.

“In a normalisation process you want normalisation process to be orderly... so you must maintain a strong grip on short term rates,” Praet said.

Reporting by Marc Jones, editing by Fanny Potkin

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