Business Services Industry
European Central Bank Makes Interest Rate Decisions.
Knight Ridder/Tribune Business News, October, 2001
Daily Mail, London Knight Ridder/Tribune Business News
Oct. 12--The European Central Bank is reverting speedily to its old bad habits. After the surprise decision to join the co-ordinated interest rates cuts post-September 11, it has decided in its wisdom to keep the foot on the brakes and hold rates at 3.75 percent.
This is not the end of the interest rates story. ECB chief Wim Duisenberg left the door open to further cuts by noting concerns about growth and expressing confidence that inflation will fall below the euroland target of 2 percent.
He recognises that global economic conditions have worsened rapidly since the events of September 11.
Enough, in fact for Duisenberg to think it "unwise" to step down.
IMF managing...
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