ECB Vanhala says Eurozone inflation close to peak

European Central Bank governing council member Matti Vanhala on Thursday reiterated that the euro zone was close to its inflation peak but said the risks to price stability were still "upwards".

The ECB said earlier it had left the benchmark minimum bid refi rate at 4.75%. It also left its reference rate for M3 money supply growth unchanged at 4.5%.

"At this moment we saw that according to the information we now have there was no need for changes (in interest rates), although the risks for pric