ECB's Nowotny - What the ECB is doing cannot prevent deflation

European Central Bank (ECB) member Edwald Nowotny, while speaking to Die Presse (German language daily broadsheet newspaper based in Vienna, Austria), said ECB’s measures cannot prevent deflation and said additional public investment is needed.

Key Quotes

Had the ECB not acted we would have tipped into deflation

As soon as situation improves monetary and interest rate policies will change

Helicopter money is out of the question for the ECB

ECB must fight the dangers of deflation