13 Jan 2015
Further stimulus sooner rather than later – ECB’s Nowotny
FXStreet (Mumbai) - The European Central Bank (ECB) should consider further stimulus measures sooner rather than later to boost the deflation-struck economy, European Central Bank (ECB) Governing Council member Ewald Nowotny said on Monday, adding that several models of new stimulus including bond buying were still being discussed.
Key Quotes:
"I don't think that ... one should get into monthly data but I think we certainly have prospects for very low inflation rates in the medium term,"
"Second, you always have to consider that monetary policy has an impact only after a long delay," he added.
"That means if I want to do something I should do it sooner rather than later."
On the details about the further measures, he responded, "because we have a lot of things in motion and I think it would not be right to go into great detail now."
Key Quotes:
"I don't think that ... one should get into monthly data but I think we certainly have prospects for very low inflation rates in the medium term,"
"Second, you always have to consider that monetary policy has an impact only after a long delay," he added.
"That means if I want to do something I should do it sooner rather than later."
On the details about the further measures, he responded, "because we have a lot of things in motion and I think it would not be right to go into great detail now."