ECB’s Nowotny says monetary policy has limits in boosting growth

20 Jan, 2016 11:49 am

VIENNA – The European Central Bank’s stimulus programme is working but there are limits to what monetary policy can do to lift growth in the euro zone, Governing Council member Ewald Nowotny said on Wednesday.

“Unconventional policies in the euro area are working,” he said at a Euromoney conference in Vienna. “We have low lending rates, we have to a certain extent higher investment and for a certain extent higher growth. But we have to be aware that of course there are limits to monetary policy.” -Reuters

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