ECB’s Nowotny:
- Says shares concerns about inflation, unemployment in Europe
- Says banks that don’t use ECB’s TLTRO long-term loans making big mistake
Austrian central bank cuts 2014 GDP growth forecast to 0.9 pct from 1.6 pct
–
Headlines via Reuters
–
More (Nowotny speaking to reporters):
- On inflation and unemployment … “I am concerned … What I have presented here is not a really great success story. We had expected an upturn in the euro zone and we have an upturn – 2014 is better than 2013 – but it is weaker than expected.”
- Dclined to discuss potential monetary policy approaches, citing the quiet period before an ECB rates meeting next week
- “I cannot give any exact numbers for the euro zone (as) we will have the (ECB) forecasts next week, but it is no secret that we are seeing the economy tend to cloud up”
- “In my view the central issue at the moment is the demand side. We have massive unutilised resources”
- “No one intends to push a country that is in an economic downturn even deeper into the abyss.”
