Pressure mounts on ECB after shock Fed rate cut
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FRANKFURT -- The European Central Bank is under increasing pressure to lower eurozone interest rates this week following the Federal Reserve’s shock 50 basis point rate cut last week. The ECB governing council meets this Thursday (April 26).
"The ECB has backed itself into a corner," Will Rugg, senior currency analyst at Standard & Poor’s MMS in London told FX Week. "If they move this week it will look like it was motivated by external factors and if they don’t that’s even worse for the bank’s
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