ECB set to remain unbowed by pressure
MARKET NEWS
FRANKFURT – The European Central Bank is unlikely to cut interest rates at its meeting this week, in spite of continuing pressure from within Europe and further afield.
“If you look at the economics, everything is in place to cut rates, so a cut is in the pipeline, but not this week,” said Simon Hayley, currency strategist at Ideaglobal in London.
“The eurozone economy has been damaged by the lack of cuts,” Hayley told FX Week. “But, the ECB is damned if it does and damned if it doesn
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