Buba's Reckers-no need for change in ECB rates

Bundesbank council member Hans Reckers said on Monday that the European Central Bank had no need to change interest rates in the foreseeable future.

Reckers, who does not have a say in setting ECB interest rates, also said he expected the euro to stabilise and euro area inflation to fall gradually. "I assume that the euro exchange rate will stabilise and inflation will slowly decline," he said in a speech. "From today's point of view there is no need for the ECB council to raise interest rates

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