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ECB's Honohan says signs of results from QE but needs to continue

Reuters - UK Focus

DUBLIN, Nov 25 (Reuters) - There are signs that the European Central Bank's quantitative easing is producing results but the bank needs to continue accomodative policies, ECB governing council member Patrick Honohan said on Wednesday.

"I think we can see results, not a huge bounce back to a 2 percent inflation rate, but I think if we didn't have it we would be looking at a worse situation," Honohan told journalists in Dublin on his last day as Irish Central Bank Governor before retiring.

"Even (Taiwan OTC: 6436.TWO - news) though there are signs of a better recovery, inflation forecasts are still not moving up and therefore definitely they need to keep the foot on the accommodation pedal," he said. (Reporting by Padraic Halpin; Editing by Conor Humphries; Editing by Louise Ireland)