ECB’s Nowotny sees a “steady-hand policy” while analysing impact of Fed decision

FXStreet (Mumbai) - The European Central Bank (ECB) Governing Council member Ewald Nowotny was on the wires earlier on the day and delivered some unexpected comments, noting that the Fed’s decision wasn’t surprising and formed part of the ECB’s expectations at its most recent meeting, when it decided to extend its quantitative easing program.

Key Quotes:

“I think one has to say that the decision from the side of the Fed wasn’t unexpected and it is also in line with our expectations we have had [at the last meeting]. So I do not see any immediate necessities [for] action.”

“I think for the time being, what we see is I think a steady-hand policy.”

“Especially now with regards to analyzing the effects of the U.S. decision, we should do it in the spirit of a steady-hand approach.”