ECB's Issing on European economic outlook

In the speech 'Outlook for the European Economy' given on 3 October, Otmar Issing of the ECB said he sees no indication of lasting inflation even after rising oil costs pushed the inflation rate above the bank's 2 percent limit in the past five months.

Rising oil prices have had a ``direct impact'' on inflation in Europe, Issing said at a meeting of the Institute of International Finance in Washington. ``Looking ahead, however, there are no indications of stronger underlying inflationary

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