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Draghi Spared as Confidence Mood Swing Quells ECB Rate-Cut Talk
Mario Draghi might be spared from having to make the thorniest of interest-rate cuts. Improving confidence indicators have eased pressure on the European Central Bank president to reduce the benchmark rate from a record low, a move fraught with the unknown consequences of possibly pushing the deposit rate below zero. While officials discussed a cut in borrowing costs last month, only five out of 55 economists in a Bloomberg survey predict that outcome today. The rest see the benchmark staying at a record-low 0.75 percent. ECB policy makers will begin their first meeting of the year in Frankfurt with the euro-area ... (full story)
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