Ireland's Hurley on ECB interest rates

The Governor of the Central Bank of Ireland John Hurley has told the Irish Financial Markets Association (FMA) that the ECB is monitoring the interest-rate situation very closely.

Hurley, a member of the European Central Bank's Governing Council, said Europe's economic recovery had not lived up to earlier expectations.

He told a gathering of the FMA in Dublin that late last year all the indicators suggested that Europe's economy was starting to accelerate, but the reality has proved disappointing

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