central bank

MADRID (Reuters) -European interest rates are at an “appropriate level” and there is no need for further guidance from the European Central Bank, its Governing Council member Jose Luis Escriva told an event in Madrid on Wednesday. The ECB kept interest rates unchanged earlier this month, as expected, and maintained an upbeat view on growth and inflation, dampening expectations for any further cuts in borrowing costs. Escriva said the markets were expecting stable rates for some time, even though he would not completely rule out another move.