FRANKFURT (MNI) – Eurozone interest rates can only move in one
direction and that is north, European Central Bank Governing Council
member Axel Weber said Thursday.
“We are currently lending banks money for one week at 1%. Interest
rates only know one direction and that is north,” Weber said.
He spoke as an audience member during a question-and-answer session
following a speech by German Finance Minister Wolfgang Schaeuble at the
Center For Financial Studies.
–Frankfurt bureau, +49-173-6529-331; jtreeck@marketnews.com
[TOPICS: M$$EC$,MT$$$,M$X$$$,M$G$$$]
