ECB rates on hold a while longer says Stark

The ECB's decision not to change rates at its meeting on Thursday 4 August was foreshadowed in a newspaper interview with Bundesbank Vice President Juergen Stark who said muted price pressures allow rates to remain on hold for a while longer.

"At the moment in the eurozone we do not see building inflationary pressures, despite the strong growth in money supply and historically low short and long-term interest rates," he said in an interview with Die Welt newspaper published on Thursday.

But he

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