ECB’s Nowotny says rate cut could be part of a package of ECB measures

Comments from Nowotny on Bloomberg:

• Sees no urgent need for ECB action
• Any ECB measures should wait until at least June
• He sees no prospect of deflation in eurozone

The bolded comment about June is probably the most noteworthy. Some ECB members have hinted at it before but that pretty much confirms the ECB is on the sidelines until June. Their tune might change if/when 1.40 cracks.