ECB interest rate cut not enough says Tajani

(ANSA) - ROME, SEP 12 - Deputy Premier and Foreign Minister Antonio Tajani expressed disappointment on Thursday at the European Central Bank's latest interest-rate cut, saying a reduction of 25 basis points on its deposit rate to 3.50% was not enough.
    "I expected a more courageous decision from the ECB, 0.25 (of a point) is too little." Tajani told a question time session in the Senate, "We have to focus on growth. Inflation is falling.
    "The ECB must be able to do more.
    "I believe that the Treaty establishing the ECB must be modified. It cannot only be the guardian of inflation, it must be able to govern the currency to support growth.
    "From a monetary point of view, we must be able to do more. If the cost of borrowing is excessive, and it is excessive, there is no reason to cut just 0.25.
    "We must not give in to the whims rigour, including those of Germany.
    "The ECB must have more courage. And reform of it is essential".
    (ANSA).