Issing hints at ECB rate rise

European Central Bank chief economist Otmar Issing said on Friday 21 October that inflation prospects in the Eurozone are worrisome and the outlook for interest rates is uncertain.

Issing spoke in several television interviews saying the ECB will have to raise rates if a prolonged rise in oil prices heightens inflationary risks for more than just a few months ahead.

''If risks for price development in the medium term increase further, we will have to act,'' he told German television DW-TV.