German chancellor Mr Gerhard Schroeder has said the European Central Bank's interest rate cut yesterday, was an "important" economic policy move.
"The chancellor has expressly welcomed the ECB decision. He said that it is an important currency and economic policy step," a spokesman said at a regular weekly news conference.
He added that "further measures" are within the ECB's competence "and I believe the ECB will take the necessary measures".
The ECB yesterday cut its key rates by 50 basis points.
PA
