Lloyds banks on slow eurozone growth
"We felt the euro was overvalued against the dollar at levels of $1.50 and over, and did not expect the overvaluation to last," said Trevor Williams, chief economist at Lloyds TSB in London. "The good news coming out of the eurozone was excessive because it was, and still is, a slower growing economy than the US, as is reflected in the interest rates."
US interest rates have remained at 2% since the Federal Reserve Bank cut rates by 25 basis points in April. Meanwhile, the European Central Bank
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