Bundesbank calm over oil price surge

Bundesbank president Axel Weber said on Tuesday 25 May that he was not overly worried about surging oil prices, and he indicated that a cut in interest rates by the ECB to help boost eurozone growth was not likely for the time being.

The current level of oil prices "does not represent a danger" either to the scenario of a gradual recovery of the eurozone economy or in terms of inflation, Weber told a news conference in Frankfurt.

Nevertheless, oil prices did constitute a risk factor and it would

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