The Bundesbank said general weak economic growth in the EU, rather than discrepancy in GDP growth rates, is likely the "real reason for widespread discontent with the economic development in the euro zone" In its August monthly report, Germany's central bank said the divergence between EU members' GDP growth rates has remained stable, or at least "definitely not become more pronounced" "Current growth discrepancies are obviously seen as especially grave because some countries that have low average growth rates are at times on the verge of drifting into recession," Buba said It said diverging growth rates would likely not be seen as an imminent problem if average growth rates were higher, for instance between 2-3 pct instead of 1-2 pct Meanwhile, soaring oil prices have so far not led to notable second round effects in the euro zone, the US or Japan, pointing to minor effects on inflation, it said "The oil price hike has so far had a relatively small effect on core inflation in these three economic regions," Buba said