- German economy contributing to euro area downturn
- Sees high probability of lower inflation rates in Q1 2015
- ECB taking note that balance sheet is still shrinking
- Sees ECB’s position as in the middle of loose and restrictive positions on monetary policy
- Wants to get ECB balance sheet up to a level around €1tn higher than today
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ECB’s Nowotny sees massive weakening in eurozone economy
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