Welteke dashes hopes of ECB rate cut

Bundesbank president and European Central Bank (ECB) governing council member Ernst Welteke sought in a TV interview to dampen hopes for an interest rate cut.

He said he doubted an ECB rate cut would help to boost consumer demand in the eurozone. "I can't imagine that there are consumers who base their decisions about savings and consumption on central bank interest rates".

Speaking in an interview with Bloomberg TV, he said, "The central bank has few options there; confidence problems have more

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