ECB's Praet says policy based on data but data must be in context

There speaks the ambiguous chief economist Peter Praet

• we have important balance sheet recession

Elsewhere ECB's Jazbec says latent credit risk may be building at banks

and ECB's Knot says Dutch unemployment falling very slowly but economy doing slightly better

Meanwhile EURUSD is crawling around 1.0875

ECB's Praet - It's data but not as we necessarily know it