Inflation no longer a threat to eurozone

- Central Banking staff
- 09 Nov 2001

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EUROPE - Wim Duisenberg, president of the European Central Bank, said yesterday, Thursday, the bank's decision to cut interest rates by 50 basis points to 3.25 per cent reflected both a need to prop up battered confidence, and the bank's belief that inflation was no longer a threat to the eurozone.

Explaining the rate cut, Mr Duisenberg said: "Our assessment, especially after 11 September, has led us to believe that confidence has been harder hit than we thought only a few weeks ago... It will

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