ECB council member sees no need for rate move

European Central Bank Governing Council member Ernst Welteke has indicated that he's happy with the present level of euro-zone interest rates.

According to him, there's no need for a debate about a further interest rate move by the ECB.

The ECB brought interest rates down by 50 basis points to a 3-year low of 2.75% in December last year.

Mr Welteke also said that the euro's recent strong rise has helped to secure price stability, denying that the currency's appreciation could lead to a recession