The ECB could also raise the deposit rate earlier than the prime rate - Nowotny

The European Central Bank (ECB) could be heading away from loose monetary policy in a different manner than the U.S. Federal Reserve, Ewald Nowotny, the Austrian ECB council member, told Handelsblatt in an exclusive interview.

Key quotes

• The American model was to finish bond purchases first, but this model might not transfer well to Europe
• All interest rates also wouldn’t have to be increased simultaneously nor to the same extent
• The ECB could also raise the deposit rate earlier than the prime rate
• Regarding the succession of ECB President Mario Draghi, whose term expires in 2019, decisions were being made “in the political sphere,”