The independence of the Austrian central bank will not be affected by its full nationalization, the bank's Governor Ewald Nowotny said on Wednesday.
Austrian daily Der Standard on Tuesday said the Austrian state was considering selling off the bank's reserves to raise funds.
But Nowotny said: "Any such specualtion is completely unfounded.
"The independence of the national bank has both a monetary and financial side. Reserves of the bank are not at disposal."
The Austrian government is planning to buy-out the outstanding 30% stake in the central bank.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.