Current recovery has, by and large, been driven by monetary policy - ECB's Coeure

At his speech today in Geneva, ECB Board member Benoit Coeure said:

"Current monetary policy will create the necessary price and wage pressures for a return of inflation".

"Ongoing broadening of the recovey, together with gradual disappearance of downside risks increases chances of job creation".

"Structural unemployment has not yet materialized meaningfully in the economy".

"Current recovery has, by and large, been driven by monetary policy".

"Monetary policy cannot run the economy hot as insurance against labour market risks".