ECB’s Stark: Recovery on track, inflation to stay low
The eurozone is still in recovery, according to ECB chief economist Juergen Stark. He sees inflation at around 1% in the near-term and to remain subdued over the policy-relevant horizon. It is important that non-standard measures do not remain in place longer than necessary. Not surprisingly the former Bundesbanker is opposed to the IMF proposal to raise inflation targets, saying it would be a serious mistake.
EUR/USD is consolidating gains after a push as high as 1.3745. It trades now at 1.3736 as Stark signals the ECB is in no hurry to hike rates anytime soon.

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OT: Anyone up for an espn fantasy baseball league with fellow forex traders?