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Benoit Coeuré, a member of the ECB’s executive board, during a scheduled speech this Monday, was noted saying that there might be a case to extend forward guidance beyond the timing of liftoff and that may happen should economic conditions warrant such a case.

Additional quotes:

   “¢   ECB could further clarify the pace at which it expects to remove policy accommodation.
   “¢   Risks of publishing a precise numerical forecast of the future path of policy rates are, however, likely to outweigh the benefits.
   “¢   A further clarification of reaction function might help market participants better anticipate the likely future path of short-term interest rates.
   “¢   Uncertainty around inflation outlook is receding and a sustained convergence of inflation to levels closer to ECB’s aim is in sight.

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