Economics
ECB's Nowotny Urges Caution on Rate Increases as Growth Slows
- Austrian central banker comments in Der Standard interview
- Nowotny says developments in German economy key for outlook
Austrian central bank chief Ewald Nowotny
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
The European Central Bank will need to move cautiously when it eventually starts raising interest rates, according to Governing Council member Ewald Nowotny.
While the ECB’s guidance suggests rates could rise after the summer, investors don’t see a hike until 2020 because of the slowing economy. Asked in an interview with Der Standard newspaper whether borrowing costs will be increased this year, the Austrian governor sidestepped the question.