Buba's Weber says ECB rates appropriate

The current level of interest rates in the 12-country euro zone is 'appropriate,' Bundesbank chief Axel Weber said Wednesday 15 June.

'Central bank rates in the euro area are historically low and monetary conditions are generous,' the Bundesbank chief said. Current economic data for the 12 countries that share the euro were 'mixed', justifying the ECB's 'wait-and-see' stance on rates, Weber said.

'We have no bias' with regard to the direction in which interest rates were moving, he said. 'And