ECB's Constancio: Our current monetary policy stance is appropriate

ECB’s Vice President Vitor Constancio is crossing the wires, via Reuters, saying that the monetary policy change will depend on data.

Key quotes (via Reuters):

• More effort is needed to solve the problem of non-performing loans
• We consider our current mon pol stance as appropriate
• There is no general situation of financial bubbles in Europe
• Have no timeframe for change in mon pol, change will depend on data
• We do not follow the Fed, we have an independent mon pol in Europe