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Draghi Weighs Whether Rate Cuts Too Valuable as ECB Meets
Mario Draghi must decide whether it’s time to use up one of his remaining interest-rate cuts. Inflation in the euro area has slowed to less than half the European Central Bank’s target and unemployment is the highest since the currency bloc was founded in 1999. While that boosts the case for action to shore up the region’s recovery, the ECB President has only two quarter-point reductions left before reaching zero. That’s a constriction that may give him pause, reflected in the fact that just three of 70 economists surveyed by Bloomberg News expect a cut in the benchmark rate today. As the ECB runs out of ... (full story)