ECB may be ready to cut rates - Lucas Papademos

European Central Bank Vice-President Lucas Papademos on Wednesday gave the latest sign the bank was ready to reduce interest rates, saying the improved inflation outlook gave more room for a rate cut. The ECB Governing Council is due to meet on 5 November and is widely predicted to cut interest rates then.

But board member Otmar Issing, the bank's chief economist, injected uncertainty about the rate outlook, saying the bank was still worried about sticky inflation which was not slowing as quic