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OECB holds fire on rate cut


OECB holds fire on rate cut


Having taken to the unusual retreat of Brdo castle in Slovenia, quitting their tower in Frankfurt to incant over the ECB runes, the interest rate has stayed at 0.75%, which had been widely forecast.

The central bank has just pulled off the revamp of its bond-purchasing programme so Mario Draghi reckons enough super is in the tank for now and it is the governments’ turn.

Three-quarters of a percent remains an historic low, but forecasts of poor end-year GDP results for the eurozone leaves space for a further easing to spur growth, come a cold December.

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