UBS : ECB's Coeure says QE is working

DAVOS, Switzerland (Reuters) - The European Central Bank's quantitative easing programme is working and has helped bring about a "tremendous improvement" in euro zone capital markets, ECB executive board member Benoit Coeure said on Friday.

Speaking in Davos, Coeure said the ECB was determined to push inflation back towards its goal of close to 2 percent, noting "we have not given up".

On the same panel, UBS chairman and former Bundesbank chief Axel Weber said central banks were tempting fate by pushing interest rates deep into negative territory and blamed recent market turbulence on easy monetary policy he said had distorted the risk calculus.

(Reporting by Noah Barkin)