"Wise man" calls for half-point ECB rate cut

GERMANY - One of Germany's senior economic advisers has said that the European Central Bank should cut interest rates by half a percentage point to help boost the economy.

"(The ECB) should use its room for manoeuvre and cut rates by half a point," Juergen Kromphardt, one of the five "wise men" or senior advisers to the German government, was quoted as telling a German magazine.

He said the current high level of inflation was not a problem as it was boosted by temporary factors such as food and