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Article: Monetary policy: Euros Look for Low Rates: Continental economists yearn for central bank cut.(European Central Bank)
- Article from:
- US Banker
- Article date:
- November 1, 2002
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The European Central Bank is expected to cut interest rates by the end of the year to help bolster the Continent's ailing economies, which is particularly sluggish in Germany. Joshua N. Feinman, chief economist at Deutsche Asset Management, says the rate could be trimmed as much as 50 basis points. "The economic news out of Europe has been disappointing," he says.
If the ECN didn't exist and Europe returned to individual central banks, Germany's interest rate would certainly be lower, he notes. The eurozone's largest economy is showing signs of sliding back into recession for the second time in 12 months, and consumer confidence has been crushed by tumbling ...