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(AFX UK Focus) 2009-11-27 07:44 RPT-ECB Nowotny: don't see inflation rising much

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VIENNA, Nov 27 (Reuters) - Inflation will not rise by much and the European Central Bank's independence will shield it from political pressure to allow inflation, ECB Governing Council member Ewald Nowotny was quoted as saying. `"We are currently in a situation where we have less than 1 percent inflation, and in the coming year this will not rise significantly," Nowotny was quoted as saying in an interview in Austrian newspaper Die Presse published on Friday.` `Asked if expansionary monetary and fiscal policy did pose a risk for price stability, Nowotny said that the ECB's non-standard measures would automatically reduce money supply when they expire.` `"The really big amounts we are talking about are the ECB's liquidity measures. When they expire, (this liquidity) is drained automatically."` (Reporting by Boris Groendahl; Editing by Jan Dahinten) Keywords: ECB/NOWOTNY (boris.groendahl@reuters.com; +43 1 53112-258; Reuters Messaging: boris.groendahl.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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