ECB Paramo: Rates Appropriate; See Euro-zone Growth By 1st Half 2010 -Radio
"Our point of view at this moment is that interest rates are appropriate, they are at the level that the euro zone as a whole needs," Paramo said during an interview with Spanish radio station Cope.
On the economy, he said that the last quarter of 2008 and the first quarter of this year likely were the worst of this crisis. "We still have a few quarters of negative growth left, but less intense than what we've seen, and in the euro zone by the middle of next year we should start to see positive growth rates," Paramo said.
The ECB on Thursday kept its key rate unchanged at a record-low 1% as policy makers indicated that they intend to monitor the effect of measures they have already taken, and are unlikely to deliver further cuts anytime soon.
Radio Station Web site: www.cope.es
-By Christopher Bjork, Dow Jones Newswires; 34 606396093
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Publié le 04 Juillet 2009 Copyright © 2009 Dowjones
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