FRANKFURT (AFX) - Christian Noyer, vice-president of the European CEntral Bank, said there is "no reason to foresee" further euro zone rate cuts "in the short-term".
In an interview with Agence France-Presse, Noyer said the ECB's May 10 cut in its key rate to 4.50 pct from 4.75 was "an adjustment which corresponded with the information we had, the prospects we had at that moment."
"And today I see no reason to foresee other rate changes in the short-term in whatever direction," he said in the interview, which took place yesterday.
"The economic situation of the United States and that of the euro zone are totaly different. The United States is faced with a brutal slowdown. The euro zone is faced with a progressive and much more moderate slowdown.
"I find it hard to understand the idea that everyone should do the same thing if the situations are different," Noyer said.