ECB is committed to keeping policy ultra easy: Praet

October 6, 2016 4:29 PM EDT

ECB's Peter Praet attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid, Spain, May 25, 2016. REUTERS/Susana Vera

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FRANKFURT (Reuters) - The European Central Bank is committed to keeping its monetary policy ultra easy to bring euro area inflation back to its objective of almost 2 percent, ECB chief economist Peter Praet said on Thursday.

"We therefore remain committed to preserving the very substantial amount of monetary support that is embedded in our staff projections and that – barring a fundamental change in sentiment and in the underlying momentum driving the recovery – remains necessary to secure a return of inflation (target)," Praet said in a speech in Washington.

(Reporting By Francesco Canepa; Editing by Hugh Lawson)

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