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ECB rate cut considered more likely

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ECB rate cut considered more likely

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The deepening recession is putting the European Central Bank under increasing pressure to further cut interest rates.

The latest data showed retail sales in the euro zone down in December for the seventh month running. And the ECB said lending by commercial banks slowed again in November, the eleventh month that has happened. There is speculation that the central bank’s policymakers may cut the cost of borrowing again as early as January.