European Central Bank (ECB) Executive Board Member Benoit Coeure said in a speech Monday that the central bank's latest stimulus measures should help to boost lending to households and businesses and to support the recovery, noting that there was "no shortage of tools".

He also said that the ECB's stimulus measures supported demand for goods and services in the Eurozone and improved financing conditions.

Coeure pointed out that economic and fiscal policies were needed to support the monetary policy.