Duisenberg dashes hopes of ECB rate cut

Wim Duisenberg has said more is needed to rebuild consumer and business confidence than another rate cut. He also said there was no serious danger of deflation in either Germany or the eurozone.

Source: Business & Finance

European Central Bank (ECB) president Wim Duisenberg has thrown water on speculation in the market that the bank will cut interest rates next month.

The head of the central bank said that he does not see much benefit for the eurozone economy from another cut in interest rates.