European Central Bank Governing Council Member Ewald Nowotny: the inflation in the Eurozone could be negative in the coming months

The European Central Bank (ECB) Governing Council Member Ewald Nowotny said on Friday that the inflation in the Eurozone could be negative in the coming months.

"It is very possible that we in the euro area will in the next month or months get into negative territory once or twice," he said.

But Nowotny pointed out that the central bank does not want to add further stimulus measures in case of small changes.

"The central bank has a mid-term orientation, which means that we don't react to every small change," he noted.

Nowotny added that "there are limits to the effectiveness of monetary policy".