Belgium's Quaden cautious on rates

Belgian National Bank governor Guy Quaden said that the economic situation in the eurozone is different from that of the US which has seen a lengthy series of interest rate increases.

In reaction to comments made by European Central Bank president Jean-Claude Trichet on moves to increase interest rates, Quaden suggested caution.

"The direction of our next move has been very clearly indicated. (However) the idea is not to put the foot down on the brake, but to take the foot somewhat off the ac