23/07/2004 (Agence Europe) - As intimated by Jean-Claude Trichet, the President of the European Central Bank (ECB) after the last meeting of the Council of Governors (see EUROPE of 2 July, p.16), interest rates are set to remain unchanged for a long time. This, in any case, is the view of Axel Weber, the President of the Bundesbank, and Otmar Issing, the ECB's chief economist, as reported by AFP. Stating that there was no "medium-term inflationary tension", Mr Weber confirmed that according to the current state of play with information, the ECB is likely to keep to the current course of its monetary policy. Mr Issing said that "the inflation rate will change in the second half of the year, more likely over 2% (...), but is set to drop back below 2% in the course of next year".