Vienna - The economist and banker Ewald Nowotny took office as new Governor of the Austrian national bank on Monday, the bank said in a statement.
As the head of the Oesterreichische Nationalbank (OeNB), 64-year-old Nowotny is also a member of the Governing Council of the European Central Bank (ECB), which sets interest rates in countries using the euro.
In the past, Nowotny has criticised the ECB's strict anti-inflation policy, calling on the bank to focus also on economic growth and employment. His predecessor, Klaus Liebscher, had a hawkish position on price stability.