10/08/2001 (Agence Europe) - In its monthly report of August, the European Central Bank (ECB) considered on Thursday that the current level of key ECB interest rates is considered "appropriate" to maintain price stability in the medium-tem, while stating that the situation in the euro zone had to be followed closely. It does, however, acknowledge that the situation may be characterised by "increased uncertainty concerning economic growth in the euro zone in the second half of 2001". Indeed, recent indicators, especially in the industrial sector, "suggest that economic growth in the second quarter of 2001 was weaker than in previous quarters". Regarding inflation, the ECB is rather optimistic, considering that "the downturn in the rise of consumer prices should continue, if there are no further negative shocks" like a rise in the price of oil or a food crisis. It calls for caution faced with a possible rise in wages in the euro zone.