31 January 2001, 14:53  Buba's Reckers sees no need for ECB rate cut

FRANKFURT (AFX) - Bundesbank Central Council member and president of the Hesse central bank Hans Reckers said he sees "no need in the foreseeable future" for a cut in interest rates by the European Central Bank.
In an interview with Focus Money magazine, Reckers said that interest rate policy should be directed towards monetary stability. Turning to general economic growth, Reckers said there was "a slight weakening in Germany and the euro zone, but still altogether a robust growth."
He also said the European Central Bank's inflation and M3 money supply indicators are currently exceeding their targets: inflation is at 2.6 pct instead of 2 pct, and M3 money supply growth at 4.9 pct instead of 4.5.
"When these targets have been exceeded, this means the whole range of data which informs monetary policy is then different," he said.

© 1999-2024 Forex EuroClub
All rights reserved