ECB’s Coeure says low euro, cheap energy helping euro zone

PARIS Cheaper oil prices and a lower euro exchange rate are helping the euro zone economy pick up, but these are temporary factors with an impact that is expected to wane, ECB Executive Board member Benoit Coeure said on Wednesday.

“International risks remain very high. The recovery is mainly underpinned by the fall in the euro and by weak energy costs, which are factors whose effect is set to wane in the short term,” Coeure told French MPs in Paris.

(Reporting by Ingrid Melander– writing by Michel Rose- Editing by Brian Love)