ECB’s Nowotny: ECB took right decision last week

European Central Bank (ECB) Governing Council member Ewald Nowotny crossed the wires last minutes, via Bloomberg TV, justifying ECB’s QE taper decision announced last week.

Key Headlines:

ECB took right decision last week.

Economy improving substantially but not there yet.

QE stock has an expansionary impact on markets.

Inflation moving in the right direction.

Wage growth will eventually take off.

It’s too early to discuss end-date for QE.

Confident ECB won’t run into scarcity issues.

Inflation in 2018 could be higher than expected now.