ECB chiefs highlight oil price fears

EUROPEAN Central Bank policymakers yesterday stressed their concern that high oil prices may curb growth and stoke inflation in the eurozone.

Ireland’s ECB Governing Council member John Hurley said that the outlook for growth had worsened in recent months in line with weaker consumer confidence.

But he and other policy makers said there was enough liquidity in the eurozone economy and that strong money supply growth might increase future inflationary pressures.