ECB's Issing sees recovery, rates appropriate

ECB Chief Economist Otmar Issing said "There are good reasons to reckon with an improvement in economic activity in the second half of 2003, which will gain pace in 2004". However, he added thatthere's also "no reason for euphoria".

Source: Bloomberg

European Central Bank Chief Economist Otmar Issing said he expects a recovery in the economy of the dozen nations sharing the euro, a signal policy makers may be done paring interest rates.

``There are good reasons to reckon with an improvement in