Issing says ECB ready to act on inflation risks

European Central Bank Chief Economist Otmar Issing said the bank is not necessarily embarking on a predetermined course of raising interest rates successively but that it is ready to act to contain higher inflationary risks.

In an interview with Frankfurter Allgemeine Zeitung newspaper, Issing was asked whether the ECB's key interest rates would be raised in the near future after it increased them by 25 basis points last Dec 1, the first ECB rate hike for five years.

"To this (issue), ECB Presi