Markets well prepared for rate hike says Stark

Bundesbank Vice-President Juergen Stark said in an interview Friday 4 November financial markets are well prepared to digest an interest rate hike by the European Central Bank.

"The president of the ECB (Jean-Claude) Trichet said very clearly yesterday that the ECB is ready to move at any time - and when he says that, I assume that the markets are also in the position of needing no further preparation time," Stark said in an interview with Reuters.

Furthermore, he said interest rates were "ext

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