18 Nov 2013
ECB's Nowotny: Eurozone recovery more sluggish than projected
FXstreet.com (Barcelona) - Speaking at an economics conference on Monday, ECB Governing Board member Ewald Nowotny suggested that the Eurozone recovery was not moving at a satisfactory pace and reminded that the inflation rate remained below the central bank's objective of 2%.
Nowotny acknowledged the improvements in the Eurozone economic activity seen in recent months, signalizing however that "this improvement is not as strong as we would have expected it perhaps some time ago.”
He stressed the importance of continuing with the process of financial integration in the region. Moreover, Nowotny pointed to the recent strong growth of credit and house prices in Central ad Eastern European countries and assured that the ECB would carefully monitor the situation.
Nowotny acknowledged the improvements in the Eurozone economic activity seen in recent months, signalizing however that "this improvement is not as strong as we would have expected it perhaps some time ago.”
He stressed the importance of continuing with the process of financial integration in the region. Moreover, Nowotny pointed to the recent strong growth of credit and house prices in Central ad Eastern European countries and assured that the ECB would carefully monitor the situation.