Cyprus News Agency: News in English, 16-10-27

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] The monetary policy has reached some limits but is still effective,

Ewald Nowotny says

[01] The monetary policy has reached some limits but is still effective, Ewald Nowotny says

The monetary policy has come to some limit but it is effective, Ewald Nowotny, member of the European Central Bank (ECB) board of directors, told an event organised by the Central Bank of Cyprus on Thursday evening in Nicosia.

In a speech on the challenges the central banks are facing and the European view, Nowotny, who is also Governor of the Central Bank of Austria, said that even the monetary policy remains at the point it has reached today, it will be a "positive impasse".

The Austrian economist noted that the dangers to Eurozone`s prospects for growth remain lower and mainly concern the external environment.

(CNA)

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