VIENNA: Outgoing European Central Bank policymaker Ewald Nowotny questioned the usefulness of further expansionary policies and saw no need for the ECB to renew asset purchases in an interview with an Austrian weekly published on Monday.
Officials told Reuters last month that an ECB interest rate cut in September appeared certain, while government bond purchases and a revamped policy message were also likely.
Nowotny, however, said in an interview with Austrian weekly Profil that did not believe those measures would be useful.
"I supported that course (of bond purchases) when its aim was to prevent deflation, and that succeeded. I am just sceptical as to whether further expansionary measures can really have a positive effect on the real economy," said Nowotny, who will be succeeded by Robert Holzmann on Sept. 1.
"I do not think it is necessary to resume this (bond-buying) programme," he said, adding: "We must prepare ourselves for a long phase of low growth, low inflation and high debt."
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