Nowotny: High probability Eurozone inflation will slow further, Germany contributing to downturn

FXStreet (London) - Speaking in Frankfurt, ECB governing council member, Ewald Nowotny has said that he sees a high probability that the Eurozone inflation rate will slow further in the first quarter of 2015, and that the ECB sees “massive” weakening in the Eurozone economy and that Germany is contributing to the downturn.

The Austrian central bank governor added that the ECB is taking note of the fact that its balance sheet is still shrinking, despite its current asset buying programmes, however has added that it is still too early to just the asset-backed security purchase programme.