Never say 'never' to full-blown QE in Eurozone, says ECB's Nowotny

"Never say never" to full-blown quantitative easing in the Eurozone, one of the members of the European Central Bank's (ECB) Governing Council said on Friday.

In an interview with CNBC on Friday, Ewald Nowotny refused to rule out a Federal Reserve-style bond-buying programme, but said he doesn't see the need for it at the moment.

However, he said: "I think that we have all learned in life that we should never say 'never'".

The comments came ahead of the expected start of the ECB's purchases of asset-backed securities in November, as the central bank attempts to revive growth and stave off deflation.

"We have now just started some new programmes. I think we should take time to look at the effects," he said.