ECB appointee against short-term rate changes

European Central Bank appointee Jose Manuel Gonzalez-Paramo has said he opposes "short-term" interest rate moves to stimulate growth.

``Growth forecasts have been reduced, but they're still respectable,'' Gonzalez-Paramo told the parliament's economic and monetary committee in Brussels. ``Monetary policy can't react in the sort term to changes in a few indicators.''

He will join Papademos, President Jean-Claude Trichet as one of 18 rate setters in May. Trichet said Saturday borrowing costs are

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