The European Central Bank (ECB) Governing Council member Ewald Nowotny said in Vienna on Wednesday that it was the right decision to add further stimulus measures, saying that the economic development was still weak and inflation remains well below 2% target.

Nowotny pointed out that it is analysts fault for market disappointment after the release of the ECB's monetary policy decision.

"I think it was really a massive failure of market analysts. I do not think that the communication policy of the ECB sent the wrong signal," he said.