ECB poised for double rate cut

The European Central Bank (ECB) is preparing to cut its base rate by 0.5 per cent to a record low within the next five weeks, according to market sources. The move is expected to ease funding and

4th December, 2011
ECB poised for double rate cut
Mario Draghi, president, European Central Bank: will attempt to spur confidence in financial markets. Photo: Getty

The European Central Bank (ECB) is preparing to cut its base rate by 0.5 per cent to a record low within the next five weeks, according to market sources.

The move is expected to ease funding and spur confidence in financial markets amid deteriorating global economic conditions,

Interest rate futures indicate the ECB governing council will definitely slash borrowing costs by 25 basis points on Thursday. But market analysts and dealers are not ruling out a...

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