ECB policy on 'accommodative side' says Weber

Bundesbank president Axel Weber said Friday 9 March the European Central Bank's monetary policy remains "on the accommodative side" even after Thursday's rate hike.

"Even after yesterday's interest rate increase, the monetary policy of the euro system remains ... on the accommodative side," Weber said, according to the text of a speech to be delivered Friday.

Weber, who is a member of the ECB's rate-setting governing council, said the ECB will "monitor very closely" all developments in the euro

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