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ECB: A Three-Way Split?
“There was a very strong prevailing consensus towards an interest rate cut, and within that, there was a prevailing consensus for a cut of only 25 basis points.” – Mario Draghi, on the ECB governing council’s decision to cut the Main Refinancing Rate to a record low of 0.50% Thursday. Other central banks publish minutes that show how this or that official exercised the power vested in him or her by the public. Not so the European Central Bank. Still, Mr. Draghi seems to have said there was a three-way split yesterday between those who wanted to cut the refinancing rate by 25 basis points, those who wanted 50 ... (full story)
