ECB’s Stark Says Rates Must Move Toward Normality, FAZ Reports
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European Central Bank Executive Board member Juergen Stark said it is time for monetary policy to move “step by step in the direction of normality,” Frankfurter Allgemeine Zeitung reported, citing an interview.
“We cannot keep interest rates at this level for a long period of time, particularly in combination with extraordinary credit assistance,” Stark was quoted by the newspaper as saying. He said the bank’s outlook on interest rates hasn’t changed as a result of the Japan earthquake, FAZ reported.