Dec. 29 (Bloomberg) -- European Central Bank Governing Council member Ewald Nowotny said inflation in the euro region will weaken from the “higher rate in 2011, which was mainly driven by energy and commodity prices.”
Maintaining price stability will “remain the ECB’s main concern” in 2012, Nowotny said in an e-mailed statement today.
The ongoing debt crisis will also slow Austrian economic growth, Nowotny, who heads the Austrian central bank, said. He forecasts a 0.7 percent expansion.
Still, Austrian companies have learned from the last crisis and “are well equipped to meet the challenges.”
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