- Nowotny said its too early for the ECB to decide that an interest rate cut is needed
- Also that the impact of Japan’s easing must be closely monitored
“It’s still too early. In Europe, we have very expansionary monetary policy and it is too early to judge if further steps should be taken,”
On Japan and the yen:
you have to say that it is a very bold experiment. As far as the exchange rate goes (against the yen), we are at the same level we were two years ago. That means I don’t see any massive threat to Europe
- But it needs to be monitored closely
