No need to overstate oil price risks-ECB's Weber

Thu Dec 6, 2007 6:13pm GMT
 
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BERLIN, Dec 6 (Reuters) - Rising oil prices are a danger for euro zone price stability but one should not exaggerate the risks they pose, European Central Bank Governing Council member Axel Weber was quoted as saying on Thursday.

"We will do everything we can to keep inflation in check," Weber said in the written transcript of an interview with German television station ARD.

Weber said that rising oil prices may be foremost among future risks.

"But I would not want to overstate the risks," he said. "The European economy is robust, though it has lost some of its growth dynamic."

The ECB left interest rates unchanged on Thursday, despite rate cuts in Britain and Canada. (Reporting by Louis Charbonneau)

 

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