Welteke-far too soon to signal lower ECB rates

Bundesbank President Ernst Welteke said on Dec 21 Europe was well equipped to withstand an economic slowdown in the United States and that it was far too soon to signal lower interest rates in the euro zone. Welteke, a member of the European Central Bank's policy-making council, also said the euro was still undervalued after its six cent rally since November. Recent global stock market losses were a correction from exaggerated levels and the U.S. growth slowdown represented a "normalisation,"

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