ECB's Nowotny Criticizes `Absurd' Expectations for Stimulus
- Austrian central-bank head says analysts misread fundamentals
- Says `massive failing' concentrated among investors in London
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European Central Bank policy maker Ewald Nowotny said the financial community misjudged the state of the euro-area economy and thus had unrealistic expectations for more stimulus last week.
“It was absurd what expectations were expressed,” Governing Council member Nowotny told reporters in Vienna on Wednesday. “I believe it was really a massive failing of market analysts. I don’t believe the ECB’s communications policy gave a false signal.”