VIENNA, Oct 19 (Reuters) - The European Central Bank (ECB) does not have to reach its inflation target near, but below 2 percent to “normalise” its policy, ECB governing council member and Austrian National Bank governor Ewald Nowotny told Austria’s Der Standard newspaper.
Nowotny said the bank must decide in October how to proceed with its massive asset purchases. He added he expected Europe to move further away from its inflation target next year.
“But I think we don’t need to wait... We can normalise (our) policy before... It would be a mistake and problematic to wait too long in Europe with (normalising monetary policy),” he was quoted as saying in an interview published on Thursday. (Reporting By Shadia Nasralla; Editing by Maria Sheahan)