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No reason for ECB to change course, steady hand needed -Nowotny
March 30, 2017 / 11:01 AM / in 9 months

No reason for ECB to change course, steady hand needed -Nowotny

VIENNA, March 30 (Reuters) - The European Central Bank (ECB) has largely set its policy course for this year and there is no need to change it unless a pickup in the euro zone’s economy proves to be lasting, policymaker Ewald Nowotny said on Thursday.

Asked if markets had correctly interpreted the ECB’s latest guidance, Nowotny told a news conference: “The strategy for 2017 has largely been set and from my point of view there is no reason to depart from this.”

The central bank should act with a steady hand based on economic fundamentals that should be examined closely for their sustainability, said Nowotny, who heads the Austrian central bank and sits on the ECB’s Governing Council. (Reporting by Francois Murphy; editing by John Stonestreet)

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