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Trichet May Choose Liquidity Over ECB Rate Cut
European Central Bank President Jean-Claude Trichet will probably resist calls to cut the benchmark interest rate today and may opt instead to increase the supply of cash to euro-area banks as the region’s debt crisis worsens. Policy makers meeting in Frankfurt will keep the key rate at 1.5 percent, according to all 57 economists in a Bloomberg News survey. The ECB may lower its inflation and growth forecasts, signaling rates are now on hold after two increases this year. The spreading debt crisis is sapping confidence in European banks and driving up market borrowing costs, prompting economists such as Nouriel ... (full story)
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