ECB's Nowotny sees no immediate need for action

VIENNA (Reuters) - The European Central Bank has no need to take immediate policy action, Governing Council member Ewald Nowotny said on Tuesday, adding that the ECB did not see inflation dropping to zero apart from in a few countries.

"As we see inflation expectations are well anchored, I do not see a need for immediate action," Nowotny told reporters on the sidelines of a Euromoney conference in Vienna.

"With the exception of some specific countries, we do not see a perspective of inflation going down to zero," he said, adding: "We have a whole range of instruments available."

The ECB last Thursday left interest rates unchanged but forcefully underlined its determination to take action should euro zone inflation risk turning into deflation or rising money market rates threaten the bloc's fragile recovery.

(Reporting by Georgina Prodhan; Writing by Paul Carrel)