Buba's Stark sees risk to growth from oil price

Central Banking staff
08 Oct 2004

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Bundesbank Vice-President Juergen Stark has said in an interview that record oil prices pose a greater risk to the euro region's economic growth prospects than they do to inflation.

"The risks are bigger to growth at the moment," Stark said in an interview late yesterday in Frankfurt. "If oil prices stay above $50 a barrel, it would certainly slow growth more."

Stark said the Bundesbank's forecasts are based on oil prices below the current rates. Crude prices rose above $50 this week, climbing

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