Ewald Nowotny, who sits on the board of the ECB, said it was "quite obvious" that monetary policymakers would now embark on further measures to lift inflation less than a year after the start of its unprecedented quantitative easing (QE) programme.
The comments, from the usually hawkish Mr Nowotny, mark the first time one of Europe's senior central bankers has all but confirmed more QE is coming. The remarks saw the single currency fall by as much as 0.6pc against the dollar to $1.142 in early morning trading.
Rating's agency Standard & Poor's predict the ECB will need to more than double its stimulus package to more than €2.4bn over the next two years .... http://www.telegraph.co.uk
