ECB policymaker opposed to QE

■ The Eurozone’s economic problems do not call for the same sort of quantitative easing programmes that central banks in the US or Japan have adopted, senior European Central Bank (ECB) official Benoit Coeure said yesterday. “There are currently no clear signs of deflation fears that would justify QE," Coeure said. “The notion that central banks have an unlimited capacity to create money is an illusion and thus cannot be used as an excuse not to reform the economy.”