Welteke: Past rate cuts will still show effect

GERMANY - Current price developments in the euro zone are "positive", but past interest rate cuts have yet to fully show their effect, Deutsche Bundesbank President Ernst Welteke said Wednesday.

Therefore the European Central Bank would be well advised to await further economic developments before changing interest rates, Welteke told Swiss biweekly Finanz & Wirtschaft.

"The interest rate cuts from last autumn will still show some effects for a longer time," Welteke said. On the other hand, sig