No need for ECB to raise rates further: DIW institute

FRANKFURT (AFP) - DIW, one of the six top economic institutes in Germany, has said it saw no pressing need for the European Central Bank to raise its key interest rates any further while economic recovery in the 12-country eurozone remained fragile and inflationary pressures limited.
"Inflationary dangers in the euro area can be characterised as being fairly limited," DIW wrote in its latest weekly report Tuesday.
"Current price rises are attributable mainly to tax hikes and changing raw material prices. The economy is not sufficiently firmly based to justify higher interest rates."