ECB's Noyer: QE seems to be working, boosting growth prospects

Mon Jun 8, 2015 10:23am EDT
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MONTREAL, June 8 (Reuters) - The European Central Bank's program of asset purchases, or quantitative easing, has boosted European growth prospects, ECB governing council member Christian Noyer said on Monday.

"That seems to work. The prospects for this year for the euro zone are much bigger. We expect a growth rate of 1-1/2 percent," Noyer said of the QE program, in an appearance at an economic conference.

But he said European governments needed to speed up their structural reforms, which so far have always tended to be too timid and too slow.

(Reporting by Randall Palmer and Allison Lampert)