European Central Bank member Ewald Nowotny said the bank would be cautious in taking a decision to raise the European interest rate. His main comments were as follows:
- Concern about factors that may slow economic growth.
- Germany is vulnerable to falling demand for global machinery.
- I do not see a crisis like 2008, but only a slowdown.
- I still see there will be a lift this year.
- Do not expect major policy changes in the near future.
- Economic data is clearly developing worse than expected in recent times.
- Germany's economic growth is likely to slow in the fourth quarter of 2018.
- There are some risks facing the Euro-Zone economy such as Trump policies and trade friction with China.
- Growth rates will be slower but will remain in the positive region.
