Analysts, not ECB, to blame for market disappointment, Nowotny says

Markets failed to assess properly the signals the European Central Bank was sending last week, governing council member Ewald Nowotny said on Wednesday, adding that analysts rather than the ECB were to blame for any misunderstanding. 

PHOTO: REUTERS

DEC 9, 20156:21 PM

[VIENNA] Markets failed to assess properly the signals the European Central Bank was sending last week, governing council member Ewald Nowotny said on Wednesday, adding that analysts rather than the ECB were to blame for any misunderstanding.

"I think it was a massive failure of market analysts," Mr Nowotny told a news conference when asked if the ECB needed to change its communications policy, adding that those analysts should have paid more attention to economic fundamentals.

REUTERS