ECB's Praet says deflation risks have disappeared

European Central Bank chief economist

• Euro area recovery remains solid, broad-based and resilient, the economy has yet to make sufficient progress towards governing council's aim
• Says in more normal market conditions, the market become "more patient"
• May be better able to evaluate the stimulus that can be expected to come from a purchase plan that is to be executed over a more extended time interval
• Monetary policy impulse that is still necessary to secure a sustained adjustment in the path of inflation in a way that is consistent with our monetary policy aim

• Says in more normal market conditions investors may become "more patient", or, in other words, better able to evaluate the stimulus
• Says we are still some distance away from a sustained adjustment

Headlines via Reuters

Careful words from Praet, as usual. The ECB is on the path to adjustment, normalisation - but there is no hurry according to the remarks here. No surprise.