ECB's Nowotny: US debate on raising interest rates "not relevant" to Euro area

Speaking to media on the margins of an annual financial market symposium, the European Central Bank (ECB) governing council member Ewald Nowotny commented on the US economy and Fed’s interest rates outlook.

Key Quotes:

"The U.S. is in a situation with significantly higher growth, they are closer to their inflation target, they have a higher deficit but they also have a significantly lower unemployment rate" 

"That means the U.S. is in a significantly different growth mode than the euro area. And therefore the discussions that are taking place in the U.S. on interest rate policy, namely on the question of an increase, are certainly not of relevance for the euro area"