ECB's Issing sees inflation falling below 2%

The European Central Bank is unhappy with the current level of inflation in the eurozone but expects it to fall below 2% in the second quarter of next year, chief economist Otmar Issing said on Monday 20 September.

'In the next few months inflation will remain above 2%, depending on oil prices. As of the second quarter of 2005 the rate will fall below 2% and remain there for the foreseeable future,' Issing said in a speech in Frankfurt. He said this was why the ECB's governing council had lef

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