ECB's Constancio: Little room to move on rates

Bank of Portugal chief Vitor Constancio said the war in Iraq poses the threat of global recession and that little room for manoeuvre exists in the way of interest rate easing at the moment.

Source: Reuters

European Central Bank governing council member and Bank of Portugal Governor Vitor Constancio said late Thursday there's a chance of global recession after the war in Iraq, and there's little room to maneuvers on interest rates and fiscal policy.

"World interest rates, specifically U.S. rates