ECB’s Escriva says interest rates at ‘appropriate’ level

MADRID (Reuters) -European interest rates are at an “appropriate level” and there is no need for further guidance, European Central Bank governing council member Jose Luis Escriva told an event in Madrid on Wednesday.

The ECB kept interest rates unchanged earlier this month, as expected, and maintained an upbeat view on growth and inflation, dampening expectations for any further cuts in borrowing costs.

(Reporting by Jesús Aguado and Emma Pinedo; Writing by David Latona; Editing by Inti Landauro)