European Central Bank Governing Council member Ewald Nowotny: active fiscal and structural policies are needed to fight deflation

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27 October 2015

European Central Bank Governing Council member Ewald Nowotny: active fiscal and structural policies are needed to fight deflation

European Central Bank (ECB) Governing Council member Ewald Nowotny said on Tuesday that monetary policy alone cannot fight deflation. Active fiscal and structural policies are needed, he added.

"We need active fiscal policy, we need elements of structural policy that also would increase demand but we also have to see that there may be strong underlying forces," he said.

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