European Central Bank Governing Council member Ewald Nowotny said economic growth in the euro area is likely to exceed expectations this year.
The ECB expects the 18-nation currency bloc to grow 1.1 percent this year.
"There is even potential on the upside," Nowotny said. The stronger economies like Germany and Austria might register 2 percent growth, he said at a Euromoney conference in Vienna.
Nowotny, who also heads Austria's central bank said, "We are still cautious."
Further, he said there is no threat of inflation or deflation over the medium term in the region.
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September 11, 2026 16:26 ET Consumer prices data was the main news on the economic front in the U.S. this week. In Europe, the latest interest rate decision from the European Central Bank was the focus along with the revised second quarter economic growth data for the euro area. In Asia, the monthly foreign trade data from China drew attention.