Ewald Nowotny

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Last quote by Ewald Nowotny

If there should be problems for specific French banks liquidity-wise, then the ECB has the ... ELA, Emergency Liquidity Assistance, but we don't expect, of course, any special movements.feedback
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Apr 22 2017 IMF
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Ewald Nowotny is associated, including Hans Joerg Schelling and London. Most recently, Ewald Nowotny has been quoted saying: “We have decided for 2017. We are continuing bond purchases at a reduced level and leaving the interest-rate structures as they are. In the second half of the year we will then reach the decisions concerning the period after the end of 2017.” in the article ECB's Nowotny says policy on rates, bond purchases set for 2017, still mulling 2018.
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Ewald Nowotny quotes

We see that to a certain extent, it is perhaps more difficult than had been thought at the start. Because if this means that the bail-in mechanism leads to losses, let's say, at pension funds, or at other banks so it might be that the problem is just transferred.feedback

We at the ECB have a strong intention to avoid a Japanese situation for Europe.feedback

There will be two decisions ... One of course is to prolong, to what extent, for what duration. The other one is of course to weigh up.. This means we have to buy further assets and the question is what assets, do we have enough assets to buy and this is a point of discussion.feedback

I think Finance Minister Hans Joerg Schelling will get the needed majority. It's like a band-wagon effect.feedback

The role of this financial centre (in London) will deteriorate, no doubt (in case of a Brexit).feedback

There are agreements between the (ECB and the BoE) for mutual liquidity help, which means that if necessary it will be assured that there would not be liquidity bottlenecks either at English banks or at European banks.feedback

If there is no clear improvement … especially in the inflation data, I see no room for changes at the ECB.feedback

I think there will be movements towards a normalization of inflation rates starting this summer. We do not expect that oil prices will go down with (as) dramatic a decrease as last year, so just automatically as an echo effect we will have higher inflation.feedback

I want to underline this because, frankly speaking, I think one should not over-dramatize the low inflation rates that we just experience now.feedback

There is obviously no doubt a decline that results in enormous destruction of wealth has very negative consequences for the overall mood.feedback

That underscores why measures of the European Central Bank in this phase are of such importance. Because the ECB is a certain guarantor that appropriate liquidity backups are possible for banks, at least those in the euro zone.feedback

We have a very clear position; we want the programmes that have been discussed just now to stay on track and that is our priority.feedback

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