+------------------------------------------------------------------------------+
BFW 05/19 17:53 *ECB'S NOWOTNY SAYS NEGATIVE DEPO RATE MUST STILL BE DISCUSSED
+------------------------------------------------------------------------------+
ECB’s Nowotny Says Negative Depo Rate Must Still Be Discussed 2014-05-19 18:20:19.857 GMT
By Alexander Weber May 19 (Bloomberg) -- EBC Governing Council member Ewald Nowotny speaks in Vienna. * "The ECB would be the first and only big central bank in the world to have a negative deposit rate’’ * "We have seen that banks are accepting negative deposit rates, that they see it as an insurance premium for an especially safe deposit. If this makes sense and is needed on a European level it must still be thoroughly discussed’’ * "The ECB only has one target, which is price stability. It doesn’t have an exchange-rate target. But the exchange rate has an impact on the inflation rate.’’ * Japanese scenario with low growth and inflation rates is “very hard to overcome for a central bank”
Link to Company News:{2539Z GR <Equity> CN <GO>}
For Related News and Information: First Word scrolling panel: {FIRST<GO>} First Word newswire: {NH BFW<GO>}
To contact the reporter on this story: Alexander Weber in Vienna at +43-1-513-2660-13 or aweber45@bloomberg.net
To contact the editor responsible for this story: Andrew Langley at +44-20-7392-0582 or alangley1@bloomberg.net