EU Parliament rejects ECB report over rate stance

MEPs rejected a report praising the European Central Bank's interest rate policy on Tuesday, saying the ECB was focusing too narrowly on stability and ignoring the need for growth.

Members voted down the text by 296 votes against 287 with 14 abstentions, in a u-turn on the decision of the economic and monetary affairs committee, which had earlier approved the document written by German center-right MEP Kurt Lauk.

The report praised the ECB's policy of focusing on price stability as a means to

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