Nowotny’s comments were reported by Austrian parliament:

  • Sees no deflation in Europe
  • Russia/Ukraine crisis and sanctions are biggest downside risk

ECB’s Knot is also out with some ho-hum headlines:

  • Economic recovery remains fragile
  • ECB’s Knot says economic prospects improved versus a year ago

The euro is near the lows of the day at 1.3593. Watch for selling on a break of the Asian low of 1.3591.

ECB’s Knot says economic prospects improved versus a year ago