April 10, 2018 / 3:40 PM / a year ago

ECB distances itself from Nowotny's policy views

FRANKFURT, April 10 (Reuters) - Austrian central bank Governor Ewald Nowotny’s comments about the future path of European Central Bank rates do not represent the views of the bank’s rate setting Governing Council, an ECB spokesman said on Tuesday.

Speaking in an interview to Reuters, Nowotny had said the bank’s first move could be a deposit rate hike and he would have “no problem” lifting it to -0.2 percent from -0.4 percent in the bank’s initial move.

He also said that the ECB’s 2.55 trillion euro bond purchase programme should be ended this year, argued that the main refinancing rate could be lifted in the ECB’s second rate hike, and made the case for speeding up normalisation.

“Governor Nowotny’s views are his own. They do not represent the view of the Governing Council,” an ECB spokesman said. (Reporting by Balazs Koranyi Editing by Francesco Canepa)

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