ECB says euro rise not a threat to growth

Central Banking staff
10 Oct 2003

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ECB governing council member Matti Vanhala said Thursday that the euro's strength was not "a significant hindrance" to eurozone growth and the dollar's weakness would help to "fix global imbalances". Bundesbank president Ernst Welteke said the euro-dollar rate was "more or less in line with its long-term average".

Source: Financial Times

The European Central Bank signalled yesterday it was preparing to ride out a further rise in the euro, despite fears the strengthening single currency could

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