Bini Smaghi says ECB rate may rise further

ECB board member Lorenzo Bini Smaghi told La Repubblica in an interview published Tuesday 23 January that the ECB's rate is "still accommodating" and may have to rise further if growth expectations are confirmed to avoid excess liquidity.

"Growth will remain robust, also in 2007, the recovery is consolidating," Bini Smaghi told daily La Repubblica in the interview.

Asked if the ECB would once again raise its interest rate, which is currently 3.5 percent, Bini Smaghi said: "If the growth scenari