Ewald Nowotny all over the wires
- ECB will continue QE as planned
- ECB agreed to continue policy of "steady hand"
- Monetary policy has limits in what it can achieve
- Sees significant economic uncertainty
- European recovery somewhat weaker than expected
- Exports are the main reason for weaker growth
- Core inflation indicates long-term price trend
- Eurozone inflation may go into negative territory next month or in coming months
- ECB policy will not react to every small change
That's another comment on the limits of QE. Unfortunately the calls for member state governments to do more to help themselves largely falls on deaf ears
The shackles are off the ECB talking heads now that the meeting is over. They're probably all straining at the leash to impart their words of wisdom to us all
Nowotny makes a good point
