ECB's Vasiliauskas sees no need for further monetary stimulus

VILNIUS (Reuters) - There is no need for further monetary stimulus from the European Central Bank as economic conditions in the euro zone are "quite good" already, ECB governing council member Vitas Vasiliauskas said on Monday.

"At the moment I don’t see the need for additional intervention," Vasiliauskas, who is also Lithuania's central bank governor, said. "In my opinion, the economic situation in Europe is quite good."

He highlighted growth in lending to households and companies and a favorable euro exchange rate against the dollar as two positives for the euro zone's economic outlook.

The ECB cut its deposit rate earlier this month and extended its asset purchase program in a bid to bring inflation in the euro zone, currently just above zero, back to its target of almost 2 percent.

(Reporting By Andrius Sytas; Writing by Francesco Canepa in Frankfurt; Editing by Hugh Lawson)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Commerzbank chair calls for review of German takeover rules after UniCredit bid
• Indian rescuers search for 22 people missing after cargo ship sinks
• Syria foreign minister sees Israel security talks resuming despite no trust