The European Central Bank (ECB) Governing Council member Ewald Nowotny said on Thursday that there is no currency war worldwide.
"There is no way of currency wars. I don't see this happening, in any case not in Europe but also don't see this worldwide," he said. Nowotny added that the central bank's asset buying programme should help to boost the economy in the Eurozone.
He pointed out that the ECB will continue its asset buying programme until September 2016 as there are no signals pointing to the end.