ECB's Praet: There has been some slowdown in Euro-zone economy

Recent developments point to some slowdown in the pace of economic growth, says the ECB chief economist Peter Praet in the keynote speech at UBS' European Conference in London.

Additional quotes: 

   •  Slowdown primarily reflects a loss of momentum in global activity.
   •  Our policy will remain predictable, and we will proceed at a gradual pace. 
   •  ECB guidance on rates has been solidly internalised by market participants.
   •  Significant monetary policy stimulus is still needed.
   •  The underlying strength of the Euro area economy continues to support confidence that inflation convergence towards ECB target will happen.