ECB's balance sheet to stay expansive for foreseeable future - ECB's Nowotny

European Central Bank (ECB) Governing Council member, Ewald Nowotny, crossed wires, saying that the ECB's balance sheet to stay expansive for foreseeable future and he sees no deflation risk for Europe.

Additional comments:

   •   ‘Flight to credit’ a genuine reason for why Euro-zone rates are low 
   •   ECB is likely to hold rates to maturity
   •   Prefer to see return to normal QE