ECB - Preparing for a rate cut |
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Overview: The ECB left leading interest rates unchanged but is preparing for a rate cut. At the press conference they softened the tone on economic growth and stressed the downward risk to growth stemming from the financial turmoil. They also softened the tone on inflation and dropped their key policy phrase "On the basis of our assessment, the current monetary policy stance will contribute to achieving our objective", indicating that there has been debate on this in the Governing Council.
Filed under: Fundamental
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