ECB could hike rates, says Orphanides

The European Central Bank's rate-setting governing council will not rule out raising interest rates, Athanasios Orphanides, a member of the council and governor of the Central Bank of Cyprus, said on Thursday.

``The fact that the ECB council has waited through the end of the year doesn't mean that it wouldn't be ready to raise interest rates further, should such a measure be necessary,'' Orphanides told Handelsblatt, a German newspaper.

Orphanides, along with his Maltese counterpart, Michae