independent

Saturday 25 May 2013

ECB plays down hope of interest-rate cut

EXPECTATIONS of a cut in eurozone interest rates have been dampened by the European Central Bank. The new hardline stance on interest rates reverses previous indications that there could be a decrease by the summer.

Speaking after a decision to leave the ECB's key interest rate at a record low of 0.75pc, ECB president Mario Draghi said confidence was returning to the eurozone.

Irish Independent

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