European Central Bank president Wim Duisenberg said ECB interest rates are likely to remain appropriate for some time to come.
"This current monetary policy remains appropriate in the opinion of the governing council for some time to come. I can't be clearer than that, I believe," Mr Duisenberg told a news conference.
He said changing interest rates now would prevent euro zone inflation from falling below the ECB's 2 per cent price stability ceiling next year.
"Our forward-looking strategy and our analysis indicate that it is likely that inflation will come down to under 2 per cent, which is our goal," he added.
"That is the reason that we didn't cut interest rates and it's the reason why we regard our current monetary policy stance as appropriate... for some time to come," he said.
AFP
