Duisenberg rules out imminent interest rate cut

EUROPE - The president of the European Central Bank, Mr Wim Duisenberg, has ruled out any imminent cut in interest rates to accelerate economic growth across the euro zone.

Mr Duisenberg was speaking after attending the informal meeting of Europe's finance ministers where there was broad agreement that Europe's economic growth prospects have worsened and that it is likely to be 2003 before a recovery may materialise.

Downward revisions in growth estimates had prompted speculation that the ECB w