DIW calls for ECB rate cut

The DIW, one of Germany's top economic institutes, has called on the European Central Bank to cut interest rates to stimulate eurozone domestic demand.

The call comes as the euro heads for USD1.30 against the dollar, which the DIW says is the level at which German exports will begin to suffer.

"In light of forecasts for only moderate growth this year and next, a strengthening of domestic demand is required," it said. "A rate cut would make sense against the background of the recent appreciation

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