Bank of Spain chief rejects ECB rate criticism

Bank of Spain governor and ECB board member Jaime Caruana denied criticism that current interest rates in Europe represent an obstacle for economic growth, Expansion reported, citing an interview with Caruana.

The Bank of Spain head reiterated that existing interest rate levels are 'adequate.'

'The current economic problems in Europe are due to structural problems and cannot be resolved through the reduction of interest rates,' Caruana said. 'Monetary and financial conditions in the euro zone