DIW institute calls on ECB to cut rates further
AFP, January, 2004
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BERLIN (AFP) — DIW -- one of the six leading economic research institutes in Germany -- called on the European Central Bank to stimulate domestic demand in the 12-country eurozone by cutting its key interest rates still further.
In a report released just two days before the ECB was scheduled to hold its first interest rate-setting meeting of the year, the DIW argued that the ECB should, at the very least, signal it is prepared to leave interest rates at their current low level for the foreseeable future in order to foster recovery.
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DIW said it expected the eurozone economy to grow by 1.7 percent this year and by 2.1 percent in 2005. ...
