Eurogroup head criticises ECB rate rise plan

An interest rate increase by the European Central Bank is unnecessary, Jean-Claude Juncker, prime minister of Luxembourg said on Monday 28 November.

Juncker renewed his attack on an ECB rate hike, expected at its policy meeting this Thursday, saying that pulling the monetary policy alarm when inflation poses no serious threat to the 12-nation euro zone could damage consumer confidence.

"Inside the Eurogroup, we think that this rate increase is not necessary," said Juncker, who heads the

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