Outgoing ECB governing council member, Ewald Nowotny, spoke in an interview with Profil magazine
- Doubts more monetary stimulus will be able to deliver significant boost the economy
- Doesn't think there is a need to restart QE
- Says "we have to learn how to live with lower growth and inflation rates"
In other words, he's trying to imply that the euro area needs more fiscal help than it does monetary stimulus. He's not wrong in that regard but I reckon the ECB can't just stand around and do nothing despite their policies not being the most efficient.
But don't take Nowotny's comment here as a dissent, because he'll be leaving his post by the end of the month and will be succeeded by Robert Holzmann, whose position on monetary policy is a bit more unknown.
