The European Central Bank Governing Council member Ewald Nowotny told Reuters Insider TV in an interview that the ECB doesn't consider any future rate cuts currently and also doesn't plan for any further accommodative measures to spur growth in Europe.

Nowotny said Just now we have to see how the various measures affect the economy, adding that this will take some time; in the meantime, I do not see any further action.

Nowotny also said that inflation is under control now, adding that the economy and markets in general are stabilizing. The policy maker called on nations to apply measures needed to solve the debt crisis.