The European Central Bank's executive board member Benoit Coeure speaking on the central bank’s monetary policy programme at Davos told CNBC that ultra-loose monetary policies will not last forever. However, he added that it is still too early discuss the bank's tapering. The ECB has been under criticism for keeping low rates for too long.

The ECB kept its main rates unchanged and maintained the bond-buying program at Thursday's meeting despite the uptick in inflation seen across the euro zone. President Draghi argued the increased levels of annual inflation rates had not yet displayed a convincing trend for the ECB to amend its monetary policy.

Cœuré echoed Draghi's opinion, told CNBC that inflation "was not firm enough" for now and the discussion of when start tightening its policy hasn't happened yet. "We will be able to taper when we have to taper. We still don't have to taper," he said. "That discussion will come," he added, but so far it hasn't started because "inflation is not firm enough."

Coeure also warned on 'challenging' future for London's euro clearing business post-Brexit. U.K.'s large financial industry at rsik as Brexit threatens to hurt London’s status as a financial hub, due in large part to companies losing their key “passporting” rights that allow them to conduct business across the EU.