Inflation fears lower rate cut hopes

EUROPE - Prospects for an early reduction in interest rates by the European Central Bank receded further yesterday as higher than expected German inflation figures were announced.

ARTICLE - The European Central Bank's (ECB) view that conditions are not right for an interest rate cut seemed to be strengthened yesterday, Apr 24, as several large German states reported higher than expected inflation figures for this month. This data matched similar news on inflation from Italy released on Apr 23