Europe's top central banker: War in Iraq would hurt economy

AMSTERDAM, Netherlands -- A war in Iraq would hurt the global economy, Europe's top banker Wim Duisenberg said in interviews Sunday, as he indicated the European Central Bank would not rule out a further interest rate cut to bolster growth next year.

In an interview on Dutch television, the European Central Bank president said he believed consumer confidence in the United States was already suffering due to uncertainty over a possible U.S. attack on Iraq.

"A war is bad news for the economy," Duisenberg said, also noting that rising oil prices will hurt consumers.

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