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ECB Nowotny: no change in rate expected

According to the ECB Governing Council member Ewald Nowotny, the regulator will decide about interest rates in June on the basis of its updated macroeconomic forecasts, but for now change in rates seems very unlikely. 

Next month the ECB will present updated economic forecasts, he noted, "and that actually will certainly help decide the question of rate policy."

"I see from my personal point of view at the moment no prospect that it will come to a substantial improvement of the economic situation soon," he said. But "a certain recovery trend" is expected by many in the second half of the year, Nowotny noted, even if now there are no clear signs of that. 

Image: Bloomberg

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