European Central Bank Executive Board member Peter Praet, crossed the wires over the weekend, after an interview with Germany's Rheinische Post, noting that extended market volatility could delay rise in inflation. Praet said, via MNI: ""Our next staff inflation projections are due in March. Compared with the situation in December we are seeing new downside risks. The main causes are the falling price of oil and a decline in global growth. In the past few days we have also seen greater volatility on the financial markets. If that continues for too long, it can also increase the risk of a rise in inflation being delayed." Praet added: "Thanks to the banking union they are now much more resilient. They have very significantly built up their capital and liquidity. One challenge they face is their low profitability, which is also related to the current level of economic growth. Also, some banks have a high level of non-performing loans on their books, as a legacy of the crisis." For more information, read our latest forex news.