ECB Nowotny: full policy normalization will take significant time

Ewald Nowotny, a member of the European Central Bank's Governing Council, is out on the wires saying that inflation goal of close to 2% is achieved but full policy normalization will take significant time.

He further added that the ECB is beginning normalization but without setting off taper tantrum in markets.

The comments might do little to offset overnight dovish ECB twist, albeit remained supportive of a modest recovery move witnessed around the EUR/USD major.