Expectations of rate cut up in ECB monthly report

EUROPE - The European Central Bank yesterday strengthened expectations that it will cut interest rates soon by saying the eurozone faced moderate inflationary pressures but continuing risks to economic growth.

In its report for October, the ECB used language that pointed more strongly towards an early rate cut than did remarks last week by Wim Duisenberg, the bank president.

Mr Duisenberg, speaking after an ECB council meeting in Vienna, surprised eurozone finance ministers by stating that the