ECB rate cut praised, but euro fails to rally
MARKET NEWS
FRANKFURT -- Analysts have praised the European Central Bank for its 50 basis point interest rate cut on November 8.
"[This] has taken some of the pressure off the ECB," Manuela Preuschl, global markets strategist at Deutsche Bank in Frankfurt, told FX Week. "I don’t think the ECB is as behind the curve as people say. It has been good to see official comments only coming from Duisenberg and Issing, as opposed to everyone."
Europe’s central bank has frequently been criticised over euro-performance
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