6/23/2008

European corporate executives are concerned that the ECB's promise to tamp down inflation could mean an interest-rate hike is coming. Chief executives of Adidas, Siemens and the Austrian oil group OMV say higher interest rates in the eurozone would strengthen the euro against the dollar, further hurting their export prospects. "Higher interest rates will, of course, slow down the growth in Europe and therefore will also slow down the basis for the growth of the energy markets in Europe," OMV's Wolfgang Ruttenstorfer said.

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