ECB's Weber sees upward risks to inflation

Further European Central Bank action is needed to make sure that eurozone price stability remains in check, European Central Bank Governing Council member Axel Weber said Wednesday 24 January.

The ECB had to act preemptively to protect price stability, Webber said, adding, "We are not in a hurry, the medium-term perspective is decisive ... I still see a need to act."

He also stressed that price risks remained to the upside, first among them the chances of stronger-than-expected pay rises feed