ECB's Praet: Underlying inflation pressures continue to remain subdued

Peter Praet, a member of the ECB's Executive Board crossed the wires last minutes.

Key quotes (via Reuters)

• The economic outlook today is now better than it has been for many years
• Underlying inflation pressures continue to remain subdued
• There is no doubt that our measures are having their desired effect
• This is clearly a challenging situation for banks, but so far its impact on profitability has been contained
• Iit would be misguided for banks to wait for changes in monetary policy to come to the rescue