ECB’s Coeuré says too early to discuss more QE

In an interview with CNBC from Lima where IMF meetings took place last week and over the weekend, ECB board member Coeuré said that the global economy was growing modestly, and the euro area was recovering modestly. 

He mentioned that the risk was coming from outside and that the ECB needed to be ready to act should anything happen and endanger the recovery in Europe. 

He explained that the existing stimulus was feeding into the economy, at a slow pace, and that it was "too early to measure the full extent" of past measures. Therefore, discussions about more QE is premature, but "it's certainly the ECB's duty to be prepared to cope with all kind of contingencies", notes Barclays.