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Article: ECB plays guessing games with the market Europe's central bank is criticised for its lack of transparency and for sending conflicting signals on interest rates
- Article from:
- The Independent (London, England)
- Article date:
- April 13, 2001
- Author:
CopyrightCopyright 2001 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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WIM DUISENBERG was on classic form at the press conference after
this week's European Central Bank council meeting. The decision not
to cut interest rates had come as disappointment but the ECB's
president refused to offer any hints about when the long-predicted
move would occur.
"I specifically don't want to introduce a bias in our public
utterances or statements. So you keep on waiting and we keep on
seeing," he said.
Many economists outside the central bank, including those at the
International Monetary Fund and the Organisation for Economic Co-
operation and Development, believe eurozone interest rates will need
to fall before long. Leading economic indicators clearly point to
slower ...