Soros: The solution of the ECB to raise rates was "quite inappropriate"

Decision of the European Central Bank (ECB) to raise rates to 1.25% per annum following a meeting last week was "quite inappropriate", given the debt problems of some of the peripheral euro area, leads to Bloomberg words of the famous billionaire investor George Soros. Last Thursday, the ECB decided to raise key rate by 0.25 percentage points from a minimum in the history of the euro zone of 1%, hoping to curb inflation, the problem is particularly acute in recent years in developed countries in the region and increasingly threatens to undermine the barely emerging revival of activity in the consumer sector of the economy. According to analysts surveyed by Bloomberg, in July, the ECB rate can be increased to 1,5% in October - up to 1,75%. "Raising rates is inappropriate in the present circumstances, when there are a number of countries suffering from too much debt and high interest rates", - Soros said at a conference in Bretton Woods. The investor also compared the position of some American states with the position of Portugal and Spain, indicating that they both have serious problems with the economy, it does not have the ability to attract debt markets for the implementation of incentive programs and have its own currency, to use monetary arrangements sustaining economic growth. At the same time, Soros believes that the U.S. government can still afford some increase in debt, if required by the interests of the economy. On materials the Interfax-Ukraine