FRANKFURT, Nov 16 (Reuters) - An increase in euro zone interest rates is not on the radar at present, European Central Bank Governing Council member Miguel Angel Fernandez Ordonez said on Monday.
"It is clear that any increase in rates is off the screen," Ordonez, who also heads the bank of Spain, said in an interview with the Financial Times.
"The markets do not expect any change before the second half of next year," he added.
The ECB is expected to keep official borrowing costs at a record low of 1 percent until the end of Q2 according to the latest Reuters poll. [ID:nLAG005913]
(Reporting by Marc Jones)