ECB officials signal reluctance to cut to zero

Two senior officials at the European Central Bank (ECB) have indicated that the Frankfurt-based institution remains reluctant to follow the Federal Reserve's lead in cutting rates to near zero.

Yves Mersch, the governor of the Central Bank of Luxembourg and a member of the ECB's governing board, told the Financial Times, a newspaper: "We are fully aware that we must not be trapped in the region of too-low nominal interest rates. We want to retain the integrity and efficiency of the policy ins