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First three months of 2015 too early for more ECB action: Nowotny

Monday, November 24, 2014 - 19:01

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The first three months of next year would be too early for the European Central Bank to take further measures to spur the eurozone's economy, ECB policymaker Ewald Nowotny said on Monday.

[VIENNA] The first three months of next year would be too early for the European Central Bank to take further measures to spur the eurozone's economy, ECB policymaker Ewald Nowotny said on Monday.

Asked by reporters what circumstances would warrant more policy action, such as buying government bonds, Mr Nowotny, a member of the ECB's governing council, said: "There are always circumstances in which one has to think again about something but currently I don't see a point of time where that could happen."

Asked about the prospects for action as soon as the first quarter of next year, he said: "What we do in the first quarter is another matter. I think it would be too early. My personal view is that we have taken a series of measures and should observe the impact of these measures."

REUTERS

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