Outspoken ECB Governing Council member Ewald Nowotny commented again today. He said that the central bank will decide on the future of monetary policy in the summer. This is rather apparent as the current EUR 30b per month asset purchase program is set to end in September. Nowotny also said that “if things continue as they are, ECB will be able to reduce asset purchases significantly” after that. While he cautioned not to make any abrupt change to policy, he also emphasized not to fall behind the curve.
Overall, Nowotny’s comments were consistent with his usual stance, which is slightly on the hawkish side of the spectrum.
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