Brussels, Frankfurt, 09/08/2002 (Agence Europe) - According to the latest estimates form the European Commission, growth during the third quarter of 2002 in the Euro-zone will stabilise around 0.6%-0. 9%, a fall compared when compared with estimates made on 9 July (0.7%-1%). The Commission points out that third quarter monthly rates in the Euro-zone was 0.5% in the 1990s, the lowest levels being reached in the first quarter of 1993 (0.7% and the highest in the first quarter of 1992 (1.5%).
In its monthly report for August, the European Central Bank (ECB) stresses that "uncertainties surrounding the strength of the current recovery are significant" and has made it known that it will not increase its interest rates in the near future because risks to price stability "have become more balanced".