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ECB’s Knot Says Euro-Area Growth Prospects Aren’t Getting Better

The economic situation in the 17-nation euro area isn’t getting better and the European Central Bank has little room left to maneuver, European Central Bank Governing Council member Klaas Knot said.

“The last information we have on the economy isn’t that positive and isn’t leading to better prospects,” Knot said, speaking to reporters late yesterday in Washington where he is attending a meeting of the International Monetary Fund. “We have little ammunition left so we need to ask ourselves when is the right moment to use it,” Knot said.