ECB's Visco says monetary policy to remain accommodative

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October 31, 2019 6:25 AM EDT

FILE PHOTO: Bank of Italy Governor Ignazio Visco speaks during a meeting in Rome, Italy, October 31, 2017. REUTERS/Remo Casilli

ROME (Reuters) - The European Central Bank's monetary policy will remain expansionary to sustain demand, while growth- friendly fiscal policies in the eurozone could help speed a return to price stability, ECB Governing Council member Ignazio Visco said on Thursday.

"Eurozone inflation remains at an excessively low level and the risk of a de-anchoring of medium-long term expectations is appearing," Visco, who is governor of the Bank of Italy, said during a conference in Rome.

In September, euro zone inflation reached 0.8% year-on-year, its slowest pace since 2016.

The ECB last month announced a package of measures that includes restarting bond purchases at a rate of 20 billion euros ($22.24 billion) a month from November.

(Reporting by Stefano Bernabei, Giuseppe Fonte, editing by James Mackenzie)


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