ECB's Nowotny says should reduce asset purchases gradually

Comments by ECB member Ewald Nowotny

• Will be able to reduce asset purchases significantly "if things continue as they are"
• Important not to make any abrupt changes to policy
• ECB to decide on future of policy in the summer
• Sees a clear possibility to reduce stimulus after September
• Important for ECB to avoid falling behind the curve

Not giving away too much, a bit more of a middle ground compared to what was said by Vasiliauskas and Liikanen earlier in the day.

Though the part about "if things continue as they are" may be a bit up for interpretation. Not sure if Nowotny got the memo on recent PMI readings and German inflation data.