European Central Bank member Ewald Nowtny said that ECB should accelerate its exit from current monetary policy, stressing its hawkish stance on timing of rate hikes.
The European Central Bank is due to end its bond buying program by the end of this year after injecting $ 2.6 trillion into the bond market and hinting that the rate could be raised by late next year if euro zone inflation accelerates.
Nowotny, governor of Austria's central bank, asked about the wisdom of waiting for about a year before adjusting interest rates. He said that the economic situation is good already and that the monetary tightening process might occur faster.
He pointed out that the discussion at the European Central Bank focuses on how long to wait to raise interest rates, adding that he fell into the more optimistic camp and that he is not the only one in his opinion, but the discussions are still open.
On the other hand, Nowotny said the European Central Bank is closely watching the potential chaos that may accompany Brexit and is also watching Italy's political developments.
