Strong euro does not require rate cut - Buba

According to Hermann Remsperger, the Bundesbank's chief economist, the ECB does not need to cut eurozone interest rates to stimulate domestic demand. The ECB's rate-setting Governing Council is due to meet on Thursday 5 February.

Hermann Remsperger also said that the strong euro will dampen exports but will not harm the German economic recovery.

"We are of the opinion that the appreciation of the euro will brake export growth. But we don't see our picture of a mild economic recovery in Germany