ECB optimistic on euro zone recovery

The ECB said on Thursday 7 August that the latest economic data confirm that interest rates are appropriate because the outlook for price stability remains favourable and there is increasing reason to expect that economic activity will recover gradually in the second half of 2003.

Source: Reuters

The European Central Bank says there are increasing grounds to expect euro zone economic recovery to take hold this year and build next year.

"There is increasing reason to expect that economic activit