Wellink does not expect ECB rate cut

Dutch central bank president Nout Wellink said in an interview he does not expect the European Central Bank to have to cut interest rates.

The option of lowering rates 'is not on my mind', said Wellink, an ECB governing council member, in an interview with the International Herald Tribune.

He said the benefits of cutting rates would probably be very limited while the costs would be potentially great.

Excess liquidity in the euro zone has played a strong role in curbing the ECB's appetite for