RTTNews - Tuesday, the European Central Bank Governing Council member Ewald Nowotny said the central bank sees neither deflation nor high inflation in the foreseeable future. He said the risk of medium term inflation driving factors is generally low and controllable.

Earlier in the month, the ECB had reduced the main refinancing rate by 25 basis points to a record low of 1% and President, Jean-Claude Trichet announced the central bank plans to buy 60 billion euro in covered bonds, joining the Federal Reserve and other central banks in buying debt under their quantitative easing policies.

For comments and feedback: contact editorial@rttnews.com