The European Central Bank is expected to make rate cuts in response to bad news flow from countries ...
The European Central Bank is expected to make rate cuts in response to bad news flow from countries like Germany. The country recently announced higher unemployment figures and lower retail sales, factory orders and manufacturing output. So far this year, the ECB has only cut rates by a quarter of a percentage point at its meeting on 10 May. The first cut in two years, which brought rates down to 4.5% from 4.75%, followed disappointing European economic data. Andrew Hunt, global economist at Dresdner RCM, says: 'The data from Germany in the past month has been terrible. Orders have bee...
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