Monetary policy "still very accommodative" - Weber

Interest rates will rise as the Eurozone's economy continues to grow, said Axel Weber, the president of the Bundesbank.

In an interview on Tuesday, Weber said: "By all measures monetary policy is still very accommodative. As the economy strengthens we will continue to withdraw the monetary stimulation because the economy is increasingly standing on its own feet and gaining momentum."

He added that there is "a risk that we will not be able to give the all-clear in 2008," referring to the ECB's i