Despite slower economic growth, the European Central Bank will most likely not lower interest rates soon, due to concerns about rising inflation, according to one key policy maker.ECB policy maker and Austrian central-bank head Klaus Liebscher said Monday record-high oil prices are starting to push up wages on the continent, Bloomberg News reported Monday. Oil hit a record high $117.60 per barrel Monday before retreating slightly at mid-day.
Liebscher's comments pushed the euro higher in early trading Monday, with the continent's currency rising about 1 cent to $1.5937 versus the dollar, and climbing about seven-tenths of a yen to 164.60 yen versus Japan's yen.
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