EUROPEAN Central Bank council member Ernst Welteke has said there is no reason to lower borrowing costs for now as three interest rate cuts in the past eight months should be enough to spur an economic recovery.

EUROPEAN Central Bank council member Ernst Welteke said further cuts in interest rates aren’t an issue after the bank pared borrowing costs earlier this month.

AN increase in US consumer confidence appears to be the only obstacle to the euro’s obstinate rise against the dollar.

TOP European Central Bank figures clashed yesterday over the future direction of ECB interest rate policy.

WAR in Iraq has already started denting the global economy, data and reports showed yesterday, stoking fears of even greater damage ahead as the chances of a protracted war seemed to be rising.

EUROPEAN interest rates are set to fall, the latest economic data shows.

A member of the European Central Bank’s governing council suggested today that the bank could cut interest rates by as much as a half percentage point next week, more than a year after it last made a change.

European Union finance officials are stepping up efforts to sniff out suspicious insider trading before the attacks on the US.