ECB’s Nowotny: ECB cannot stop asset purchases abruptly
|ECB Governing Council member Ewald Nowotny crossed the wires last minutes, via Reuters, commenting on the bloc’s inflation outlook in an interview with Der Standard.
Key Points:
ECB cannot stop asset purchases abruptly
Decision how to proceed must be made in Oct
Sees arguments for slowing purchases
Won't reach inflation target this year
Expect even lower inflation next year but policy can be normalized before target reached
Sees risks of bubbles in Europe with investors seeking alternatives in times of low rates
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