Welteke sees no need for rate cuts now - report

PORTUGAL - Current European Central Bank interest rates are appropriate and there is no need for a cut at this time, Bundesbank President and ECB governing council member Ernst Welteke said in a newspaper interview published Friday.

"At this moment, (rate cuts) aren't necessary," Welteke told daily Diario Economico. "Current interest rates are appropriate for the objective of guaranteeing price stability."

"We should wait for future developments before taking new decisions," he said.

On the euro's

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