Monetary policy in the euro zone will remain accommodative for some time as inflation struggles to pick up, a member of the European Central Bank told CNBC Friday morning.
Though the central bank has recently taken a step towards policy normalization, the ECB will continue tracking data before dramatically changing its monetary policy.
"I think there's a very broad agreement in the Governing Council of the ECB that a high degree of monetary accommodation will remain needed and that's irrespective of a trade war, of anything we've seen recently," ECB's Executive Board Member Benoit Coeure told CNBC's Steve Sedgwick at the sidelines of the European House Ambrosetti Forum.
"That's because the economy, and in particular the inflation in the euro zone, is not yet where we want to see it," Coeure explained. "We're very much data driven, we look at facts," he said.
According to the latest forecasts, the ECB expects core inflation to be 1.1 percent this year and 1.5 percent in 2019. The bank's medium-term target is 2 percent.