ECB April rate move unlikely - Welteke

A rate cut is not on the cards, at the moment at least, said Bundesbank chief Ernst Welteke on Wednesday. With the economic impact of the war still far from certain he said it made no sense to take any sort of action.

Source: Reuters

European Central Bank council member Ernst Welteke said on Wednesday the ECB was unlikely to cut interest rates next week given the uncertainty over the economic impact of war in Iraq.

"The international situation continues to be unclear. If that doesn't change, the