ECB's Liebscher says rates need not increase

European Central Bank council member Klaus Liebscher said in an interview he sees no reason to increase interest rates as a "weak" labour market helps bring down inflation.

"There is currently no real inflation pressure building up in the euro area," Liebscher said in an interview yesterday at the Austrian National Bank in Vienna, which he heads. Rising unemployment doesn't "hint at an acceleration of inflation even as economic growth remains robust."

``We need to be vigilant but, at this momen

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