ECB monetary policy normalization should start now, says Nowotny
LONDON (Reuters) - The European Central Bank (ECB) should start normalizing its monetary policy, one of its senior members, Ewald Nowotny, said on Tuesday.
LONDON (Reuters) - The European Central Bank (ECB) should begin to normalize its monetary policy, one of its senior members, Ewald Nowotny, said on Tuesday.The ECB is expected to present in the coming months how it will reduce the € 2.5 trillion stimulus program it has been using to help the eurozone economy over the past three years."Now I think it's time for a gradual normalization of monetary policy," said Nowotny, who runs Austria's central bank, during a speech at the SUERF economic conference."This normalization requires a delicate balance of measures as well as a careful sequence over time," he added, saying that there are risks both in being too aggressive with the process and in starting too late.He was cautious, however, about current trade frictions between the United States and China."Trade wars have negative effects on everyone involved," Nowotny said."The direct effects may be on the exchange rate side, but this is hard to see or predict becaus...
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